What is the end-of-period worksheet, Accounting Basics

What is the end-of-period worksheet

Show Trial Balance-debits MUST EQUAL credits

Show Adjustments-debits MUST EQUAL credits

Carry adjustments forward to Adjusted Trial Balance columns.

Carry the amounts from Adjusted Trial Balance to Income Statement and Balance Sheet (only Assets, Liabilities, and Owner's Equity.)

The difference will be either a NET INCOME or NET LOSS.

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