What is Extended Trial Balance - Sample & Format Example
An Extended Trial Balance is an extension to Simple or Basic or Standard Trial Balance by adding the columns for Adjustments and two further columns for Income Statement and Balance Sheet Items Lists to show Closing Balances of Ledger Accounts after adjustments if created on any Accruals And Prepayments or any other accounts that need adjustments or need to be rectified or if there is any updates that required to make changes at the end of accounting period. So, this Trial Balance is a mixture of simple and Adjusted Trial Balance and hence it includes both Income Statement Items Lists i.e., Revenues And Expenses and Balance Sheet Items Lists that consists of Permanent Accounts ( Assets , Liabilities & Equity ). Extended Trial Balance Sample / Format There are 4 Parts that are involved in a Extended Trial balance. These are mentioned below: 1. Closing Unadjusted Trial Balances of All Types of Accounts 2. Adjustments, Accruals ...