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An unadjusted trial balance is the one which is created before any adjustments are made in the ledger accounts

A trial balance is a list of the balances of ledger accounts of a business at a specific point of time usually at the end of a period such as month, quarter or year.

An unadjusted trial balance is the one which is created before any adjustments are made in the ledger accounts.

The unadjusted trial balance is the listing of general ledger account balances at the end of a reporting period, before any adjusting entries are made to the balances to arrive at financial statements. You use the unadjusted trial balance as the starting point for analyzing account balances and making adjusting entries

The preparation of a trial balance is very simple. All we have to do is to list down the balances of the ledger accounts of a business 。

In accounting, a record of the assets and liabilities of a company made during an accounting period before any mistakes are corrected or any other adjustments (such as unearned revenue or prepaid expenses) are calculated。

In accounting/accountancy, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred 。

Adjusting entries are journal entries recorded at the end of an accounting period to adjust income and expense accounts so that they comply with the accrual concept of accounting. Their main purpose is to match incomes and expenses to appropriate accounting periods.

The transactions which are recorded using adjusting entries are not spontaneous but are spread over a period of time. Not all journal entries recorded at the end of an accounting period are adjusting entries. For example, an entry to record a purchase on the last day of a period is not consider as an adjusting entry. An adjusting entry always involves either income or expense account 。

Each adjusting entry usually affects one income statement account (a revenue or expense account) and one balance sheet account (an asset or liability account). For example, suppose a company has a $100 debit balance in its supplies account at the end of a month, but a count of supplies on hand finds only $30 of them remaining. Since supplies worth $70 have been used up, the supplies account requires a $70 adjustment so assets are not overstated, and the supplies expense account requires a $70 adjustment so expenses are not understated

Adjustments fall into one of five categories: accrued revenues, accrued expenses, unearned revenues, prepaid expenses, and depreciation

These are following types of adjusting entries:

■Non-cash:

These adjusting entries record non-cash items such as allowance for doubtful debts or depreciation expenses

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