Here's a complete and clearly explained set of notes for accounting example, covering the Trial Balance, Profit & Loss Account, Balance Sheet, and Accounting Equation, including the adjustments and their impact: ACCOUNTING EXAMPLE – FULL EXPLANATION WITH NOTES 1. TRIAL BALANCE Explanation: A trial balance is a summary of all ledger account balances. The debit side includes assets and expenses, while the credit side includes liabilities, capital, and incomes. Trial Balance is balanced, showing th