5 2 Prepare a Post-Closing Trial Balance Principles of Accounting, Volume 1: Financial Accounting
You’ll also notice that the owner’s capital account has a new balance based on the closing entries you made earlier. The unadjusted trial balance is your first look at your debit and credit balances. If not, you’ll have to do some research to locate and correct any errors. A post-closing trial balance is, as the term suggests, prepared after closing entries are recorded and posted. AccountingTools In other words, the post closing trial balance is a list of accounts or permanent...
