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AccountingFinancial Accounting

A Trial Balance Prepared After Adjusting Entries Are Posted: Purpose and Sequence

Explain the purpose of a trial balance and place the adjusted trial balance correctly between posted adjustments and financial statements.

Question

In Harper College's Adjusted Trial Balance review section: (1) What is the purpose of a trial balance? (2) In what order does the accounting process lead to financial statements?

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Evidence boundary

The two selected Harper review prompts ask for purpose and process order. They do not provide account balances, so this answer does not fabricate totals or answer the separate numerical practice exercise below them.