Adjusted trial balances reflect the balances on ledger accounts after adjusting entries. An adjusting entry refers to changes to ledger accounts in the current accounting period not yet recorded, which involve at least one revenue or expense account. Adjusting entries may include accruals such as interest expense, or prepayments. The adjusted trial balances account for revenues, expenses, .
assets, liabilities and equities. For example, a company can list on its adjusted trial balance sheet a number of items, including the aggregated debit and credit totals for areas such as cash, accounts receivable, inventory, prepaid rent, fixed assets, equipment, accumulated depreciation, accounts payable, utilities payable, unearned revenue, interest payable, notes payable, common stock, service revenue, wages expense, supplies expense, rent expense, miscellaneous expense, electricity expense, telephone expense, depreciation expense, interest expense, dividend and others. The debit and credit totals must match, otherwise there may be an error in the journal entries. More Reference Links: http://accountingexplained.com/financial/cycle/adjusted-trial-balance http://www.accountingtools.com/questions-and-answers/what-is-an-adjusted-trial-balance.html
