The third step of accounting process is to post the journal entries to the ledger accounts. After posting all the journal entries, the balance of each account is calculated. The balanc...
A trial balance is a list of the balances of ledger accounts of a business at a specific point of time usually at the end of a period such as month, quarter or year. An unadjusted tria...
Adjusting entries are recorded at the end of an accounting period to adjust ledger accounts for any changes that relate to the current accounting period but have not been recorded yet. ...