WebbThe post-closing trial balance will contain only balance sheet accounts. A Post-closing trial balance is prepared after all the adjusting entries are passed. Basically, it contains all the balances of permanent account i.e., balance sheet. Was this answer helpful? 0 … WebbNotice that revenues, expenses, dividends, and income summary all have zero balances. Retained earnings maintains a $4,565 credit balance. The post-closing T-accounts will be transferred to the post-closing trial balance, which is step 9 in the accounting cycle.

Solved Exercise 3-16 (Algo) Preparing closing entries and - Chegg

WebbChoose the best answer for each of the following questions: A post-closing trial balance contains a) only temporary accounts b) only permanent accounts c) permanent and temporary accounts d) only balance sheet and income statement accounts, but no others. iowa to washington state

3.6 Prepare a Trial Balance - Principles of Accounting ... - OpenStax

WebbThe post closing trial balance is a list of all accounts and their balances after the closing entries have been journalized and posted to the ledger. The post closing trial balance is a list of accounts or permanent … WebbAfter the closing entries are journalized and posted, only permanent, balance sheet accounts remain open. A post‐closing trial balance is prepared to check the clerical accuracy of the closing entries and to prove that the accounting equation is in balance before the next accounting period begins. WebbThe post-closing trial balance will contain only owner’s equity statement accounts and balance sheet accounts. Current assets are listed in the order of liquidity. Current liabilities are obligations that the company is to pay within the coming year. SECOND: MULTIPLE CHOICE QUESTIONS: opening act for my chemical romance