A trial balance prepared after all adjusting entries is known as what?

The term used for a trial balance that is prepared after all adjusting entries have been made is the Adjusted Trial Balance. This document reflects all the account balances after adjustments have been recorded to account for transactions and events not originally included in the unadjusted trial balance, such as accrued revenues, accrued expenses, and deferred income.

The Adjusted Trial Balance is essential as it ensures that the accounting records are accurate before preparing financial statements. It serves as a final check to confirm that debits equal credits after all adjustments have been considered, making it crucial for accurate financial reporting.

This contrasts with other types of trial balances, such as the Preliminary Trial Balance, which is created before adjustments, and the Final Trial Balance or Closing Trial Balance, which are often used interchangeably to refer to balances struck at the end of a reporting period. However, the key distinction lies in the Adjusted Trial Balance's focus on reflecting the effects of those adjustments, which distinguishes it from the other options.