Financial statements can be prepared from the information provided by an adjusted tabular summary of transactions.

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An adjusted tabular summary of transactions, also known as a trial balance, provides the necessary information to prepare financial statements. It lists all of the accounts in the general ledger, along with their ending balances, and serves as a tool for ensuring the debits and credits are in balance. The information from the trial balance is used to prepare the financial statements, such as the income statement, balance sheet, and statement of cash flows.

Financial Statements Can Be Prepared from the Information Provided by an Adjusted