Accounts Preparation Extended Trial Balance Learning objectives: At the end of this chapter you will be able to: 1.Enter adjustments into the extended trial balance 2.Cross cast the initial balances and the adjustments to the appropriate Statement of Profit or Loss and Statement of Financial Position Columns 3.Enter the balancing profit or loss figure into the appropriate columns

Accounts Preparation Extended Trial Balance Trial BalanceAdjustmentsStatement of profit or loss Statement of financial position Ledger Account DrCrDrCrDrCrDrCr

The steps to prepare an extended trial balance... Step 1 – Extract the trial balance as normal Step 2 – Put through the adjustments Accruals, Prepayments, Closing Inventory, Irrecoverable Debts, Depreciation, Disposals acquisitions, Error correction & Clear Suspense