Adjusted Trial Balance and Financial Statements | Accounting How To | How to Pass Accounting Class

Adjusted Trial Balance and Financial Statements | Accounting How To explains how to post adjusting entries to the general ledger, how to create an adjusted trial balance, and how to create financial statements. It is the fourth part of the video series explaining Adjusting Entries, why adjusting entries are needed, how to do adjusting entries for accruals and deferrals of expenses and revenue. This is an accounting tutorial for accounting students, business owners, and bookkeepers to explain accounting basics for beginners. Featuring Terrance the T-Account Rex and accounting educator, Caroline Grimm, this accounting tutorial is part of the playlist series How to Pass Accounting Class and Accounting Basics for Business Owners. ⏰ Accounting How To Time Stamps: 00:00 Introduction to Adjusted Trial Balance and Financial Statements 01:27 Chart of Accounts revised 02:42 Journal Entries 04:38 Posting Journal Entries to the General Ledger 05:49 Unadjusted Trial Balance 06:14 Adjusting Journal Entries 09:44 Posting Adjusting Journal Entries to General Ledger 10:30 Adjusted Trial Balance 11:52 Preparing Financial Statements 12:15 Preparing the Income Statement 12:53 Preparing the Statement of Owner’s Equity 14:09 Preparing the Balance Sheet