Is there a simplified explanation of how to figure an adjusted trial balance?
The journal entry for Depreciation is recorded as: Debit Depreciation Expense for the amount Credit Accumulated Depreciation – (Name of asset account) for the amount. Depreciation is an adjusting entry. On a 10-Column worksheet the first 2 columns are for your trial Balance, columns 3 and 4 are for your adjusting entries, columns 5 and 6 is for your adjusted trial balance, columns 7 and 8 are for your Income Statement accounts, and columns 9 and 10 are for your Balance Sheet accounts.
