Bookkeeping

A Trial Balance is a list of all the accounts of a business and their balances; its purpose is to verify that total debits equal total credits. Whereas, the adjusted trial balance (ATB) is the same as UTB except that it also includes any adjusting entries made during an accounting period. It will contain all…

Unless noted otherwise, annual and quarterly data are presented on a calendar basis. The personal saving rate is personal saving as a percentage of disposable personal income. Personal outlays is the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments. Gross domestic income (GDI) is the sum of incomes earned and…