Closing the books on an accounting period is a lengthy and complex process. No matter how complex, it needs to start somewhere. For every company, big or small, it starts with a trial balance. This is ...

Revenue is the income the business generates from production activities. An unadjusted trial balance is an unprocessed list of ledger account balances at the end of the accounting period. The ...

In a double entry accounting system, accounts are entered in either a debit or credit column. Accounts are debited to show an increase in an asset, expenses and receivables. Accounts are credited to ...