Other adjustments such as posting depreciation and prepayments are also done at this time. This results in a listing called the adjusted trial balance. It is the accounts in this list, and their corresponding debit or credit balances, that are used to prepare the financial statements.
Other adjustments, such as depreciation and prepayments, are also made at this time. The resulting adjusted trial balance contains a list of all accounts and their corresponding debit or credit balances, which are subsequently utilized for preparing financial statements.