Accounting - Preparation of reports: the 10 column worksheet
The 10 column worksheet
The 10 column worksheet is a useful tool that shows the effect of balance
day adjustments on the Profit and Loss statement and the balance sheet. In
the example provided amounts are given for the ledger accounts at the end
of the period but before balance day adjustments are made. This trial
balance totals and then the adjustments are provided. The impact can be
followed through to the financial reports.
The worksheet makes preparation of the Profit and Loss statement, and
balance sheet easier. Their respective columns are totalled, and the net
profit or loss may be determined.
View the word document for the 10 column worksheet.
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