Accounting

Introduction

This formal is about in accounting, the work sheets. Many accountants use a work sheet to prepare the unadjusted trial balance, to assign the adjusting entries to the correctaccounts, to create the adjusted trial balance, and then to prepare preliminary financial statements. A work sheet is an optional step in the accounting cycle. It is an informal document that is notconsidered a financial statement, although it gives management some information about results for a period. Work sheets usually have five sets of debit and credit columns, which are completed from left toright one set at a time.

Area of Investigation

Accounting
Trial Balances
Reports
Work Sheets

Problem

* How can be prepared a Work Sheet?

Data Collection Bank

Accountants often useworksheets as a preliminary step to preparing the financial statements and consolidating a great deal of information. The worksheet is a tool for creating a trial balance and an adjusted trialbalance. It uses all of the accounts contained in the company's accounting records, records adjusting entries and calculates the final numbers to enter on the financial statements. Creating a worksheet is anoptional step and is most often used in manual accounting systems. A worksheet may be used as an analysis tool in a computerized or manual accounting system.
A typical worksheet consists of acolumn on the left showing main account titles and 10 more columns of debits and credits showing trial balance, adjustments, adjusted trial balance, incomes statement and balance sheet.
Chart of AccountsEvery company keeps a chart of accounts which lists every account the company has. It is divided into five sections: assets, liabilities, equity, revenue and expenses. Each of these accounts is inthe company's general ledger, where balances of each account are maintained. An accounting worksheet begins by listing each account and the balance each account has.

Hypothesis

Instructions...