1. 12 Column
Worksheet
G11 Charlie Mae Dolipas
4A Kadakilaan

2. What is a worksheet?
a
worksheet or also known as extended
trial balance is a business form containing
multiple columns that is sometimes
prepared in the concluding stages of
accounting cycle
 prepared after unadjusted trial balance is
extracted from the ledgers’ balances

3.  major
purpose of the worksheet is to incorporate
adjustments to the closed accounts in a structured
manner following a certain format
 it is an optional document prepared mostly for
internal use so that management can understand
what adjustments are made, what accounts are
affected and by what amount

4.  five



sets of columns on the right of account titles
where each set contains two sub-columns i.e. debit
and credit in the following order:
Trial balance or unadjusted trial balance
[2 columns - 1 debit, 1 credit]
Adjustments [2 columns - 1 debit, 1 credit]
Adjusted trial balance [2 columns - 1 debit, 1 credit]

5. 

Income Statement or Trading, Profit and Loss
account
[2 columns - 1 debit, 1 credit]
Statement of financial position or Balance sheet
[2 columns - 1 debit, 1 credit]

6. Completing the worksheet
 Copy
the figures from your trial balance
into the worksheet (columns 1 and 2) and
total the columns.
 Enter balance day adjustments (column 3
and 4) and total the columns making sure
that Dr equals Cr. Each adjustment should
also be numbered and referenced below
the worksheet.

7.  Adjust
the trial balance figures (columns 1 and 2)
with the balance day adjustments (columns 3 and
4) and place the totals in adjusted trial balance
(columns 5 and 6).
 Sort each figure in the adjusted trial balance
(columns 5 and 6) into profit or loss, and transfer to
the income statement (columns 7 to 10) or balance
sheet (columns 11 and 12) accordingly.

8. 






Balance the worksheet:
Total the trading columns (columns 7 and 8). The
difference between the totals is the gross profit or loss.
If the total credits exceed debits, a gross profit has been
earned.
At the bottom of the worksheet write Gross profit in the
account name column, and enter the amount as a
debit in Trading (column 7) and a credit in Profit and Loss
(column 10).
If the total debits exceed credits, a gross loss has been
made.
At the bottom of the worksheet write Gross loss in the
account name column, and enter the amount as a
credit in Trading (column 8) and a debit in Profit and Loss
(column 9).
Total the trading columns (column 7 and 8) to make sure
they balance.

9. Total the profit and loss columns (columns 9 and 10).
The difference between the totals is the net profit or
loss.
 If total credits exceed total debits, a net profit has
been earned.
 At the bottom of the worksheet write Net Profit in
the account name column, and enter the amount
in the debit side of the Profit columns (column 9)
and credit balance in the Balance sheets columns
(column 12).
 If total debits exceed total credits, a net loss has
been made.


10.  At
the bottom of the worksheet, write Net Loss in the
account name column, and enter the net loss in the
credit side of the Profit columns (column 10) and
debit balance in the Balance sheets columns
(column 11).
 Total the balance sheet columns (columns 11 and
12). The total debits should equal the credits. If not
you should check all of your work.

12. Sources
 http://toolboxes.flexiblelearning.net.au/d
emosites/series11/11_06/toolbox11_06/res
ources/html/ffact_baldayadj_worksht.htm
 http://pakaccountants.com/what-isaccounting-worksheet/
 http://financereading.com/steps_in_prep
aring_the_worksheet.htm