6-column worksheet
6-column worksheet
Alam kong masakit mag-adjust, pero hindi ito ang dahilan para sumuko ako.
Last 3rd quarter, we had our 8-column worksheet. Now, we are having the 6 and 12-column worksheet.
Our 6 column worksheet is composed of 2 columns for Trial Balance, 2 columns for Adjustments, and 2 columns of Adjusted Trial Balance.
According to khullakitab.com,
Unadjusted trial balance
Unadjusted trial balance is a first part of work sheet, just like a trial balance.The trial balance which is prepared before the adjusting entries is called unadjusted trial balance. It is a list of debit and credit balances of account shown on the worksheet as a starting step to verify the equality of the debit and credit totals. Trial balance helps to check the arithmetical accuracy of the accounts.
Adjusting Entries
It is the second part of work sheet only adjustment items are recorded. Adjustment entries help to enter the financial transactions in the worksheet by providing a separate debit and credit columns for such adjustments. The debit and credit total of adjustments should always remain equal.
Adjusted trial balance
It is the third part of work sheet which is combination of unadjusted trial balance and adjustment column.A trial balance prepared by incorporating adjustments is called adjusted trial balance. The adjusted trial balance is a compiled worksheet of adjustments. A new account balance is obtained in adjusted trial balance. The total of debit and credit of adjusted trial balance should always remain equal.
When I tried to research about the 6-column worksheet in the google, the headings of the 6 columns are different.
It is because the one we used is only the half of the 12-column worksheet.
This is a sample 6-column worksheet of Mr. Randy Palestina; our bookkeeping teacher.
This is another example from www.accountingexplained.com
THINGS I NEED TO REMEMBER IN DOING A 6-COLUMN WORKSHEET
1. Trial balance should be accurate.
2. Write the heading.
3. The arrangement of the account titles will always be based from the Chart of Accounts. According to unknown (which wishes to be unknown), cash is the most liquid asset that’s why it comes first.
4. Write the values aligned with the account titles.
5. Trial balance is composed of assets, liabilities, and owner’s equity. Note: You should place the value of the account titles in their proper places for it to be balanced.
6. Adjustments is composed of the adjusted value given in the transactions.
7. Adjusted trial balance is composed of adjusted entries in the unadjusted trial balance.
References:
Accounting Worksheet. (n.d). Retrieved
from http://accountingexplained.com/financial/cycle/accounting-
worksheet
Creating a Trial Balance. (2013, October 28). Retrieved
from https://www.youtube.com/watch?v=D2qPk6-
erQk&feature=youtu.be
Prepare an Adjusted Trial Balance Statement (Financial Accounting
Tutorial #24) video. (2013, December 21). Retrieved
from https://www.youtube.com/watch?
v=gwP0Pcm5C4I&feature=youtu.be
The Worksheet. (n.d). Retrieved from http://www.khullakitab.com/the-
worksheet/notes/account/grade-12/340/notes
