Work Sheet

Work Sheet is an important tool to make adjustment in the unadjusted trial balamnce. As a result, adjusted trial balance, income statement and balance sheet can easily be prepared without any difficulty. 

Work Sheet is not a part of  journal and not a part of financial statement. It is just like a working paper used to do the work easily and in a timely manner. 


Typically, following are the main components of the work sheet:

  • Trail balance column,
  • Adjustment column,
  • Adjusted trial balance,
  • Income statement Column,
  • Balance sheet column.