Preparing the Financial Statements (Financial Accounting Tutorial #25)

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This financial accounting tutorial explores how the adjusted trial balance is used to complete the 3 main financial statements: the Income Statement, the Balance Sheet, and the Retained Earnings Statement. We examine how to construct these basic finance tools, explain why you construct each statement in a specific order, and examine effects on accounts like equity.

Feel free to skip over parts. It's a pretty simple tutorial where I mainly transfer account balances.

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