What is the purpose of the adjusted trial balance

Reference no: EM131519751

Question: 1. What is the purpose of the adjusted trial balance? How do the adjusted trial balance and the (unadjusted) trial balance differ?

2. Explain what is meant by the term classified when referring to a balance sheet.

3. At the end of the period, Sanders Company reports the following amounts: Assets = $12,000; Liabilities = $8,000; Revenues = $5,000; Expenses = $3,000. Calculate stockholders' equity.

Reference no: EM131519751

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