The Financial Statements Are Prepared From Which Columns Of The Trial Balance Worksheet

Financial Statements Are Prepared From Which Columns Of Trial Balance Of Worksheet?

The Financial Statements are prepared from Adjusted Trial Balance Columns of Worksheet.

It is due to the fact that update balances of Balance Sheet Accounts (Assets & Liabilities ) and Income Statement Accounts (Revenue and Expenses) are obtained from adjusted trial balance columns of worksheet.

There are 10 columns of worksheet because there are 5 sections (each has 2 columns) in it. One is for Trial Balance Columns, second for Adjustments, third one is for Adjusted Trial Balance, forth one is for Income Statement and the fifth and final section contains Balance Sheet Columns. A worksheet starts with account title column on the left side.