Trial Balance Explained with an Example | Accounting How To | How to Pass Accounting Class

Trial Balance Explained with an Example | Accounting How To is an accounting tutorial about the purpose of a trial balance in accounting. It demonstrates unadjusted trial balance, adjusted trial balance, and post-closing trial balance. 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 Trial Balances 00:24 The Olden Days of Accounting 00:54 Reason for doing a Trial Balance 01:28 Accounting Cycle and Trial Balances 01:43 Trial Balance #1 02:17 Sample Trial Balance 02:40 How to do a Trial Balance 03:27 What to do if your Trial Balance doesn’t balance 04:28 Unadjusted Trial Balance 04:47 Adjusting Entries and Adjusted Trial Balance 05:47 Financial Statement Preparation 06:05 Closing Entries and Post-Closing Trial Balance 07:15 How we use Trial Balances “In Real Life” 07:33 How Software Changes Almost Everything with Accounting