False. The adjusted trial balance is used to prepare the income statement only. the unadjusted trial balance is used to prepare the equity statement and balance sheet.
The general ledger account balances are shown in an adjusted trial balance following any revisions. These changes often cover depreciation, prepaid expenses, accruing expenses, and other non-cash costs. It's that easy.
A list of the ledger account closing balances at a certain moment is called a trial balance. On the other hand, an adjusted balance is a list of general accounts and their current balances following the posting of the adjusting entries.
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the adjusted trial balance is used to prepare the income statement only. the unadjusted trial balance is used to prepare the equity statement and balance sheet. T or F
