Select the Statement Below That Describes a Post-closing Trial Balance.
As closing entries close all the temporary ledger accounts the trial. The post-closing trial balance contains no revenue expense gain loss or summary account. Prepare A Post Closing Trial Balance Principles Of Accounting Volume 1 Financial Accounting The post-closing trial balance ensures there are no temporary accounts remaining open and all debit balance is equal to all credit balances. . A post-closing trial balance is a listing of all balance sheet accounts containing non-zero balances at the end of a reporting period. A post-closing trial balance is the final trial balance prepared before the new accounting period begins. You are preparing a trial balance after the closing entries are complete. The ninth and typically final step of the process is to prepare a post-closing trial balance. Since temporary accounts are already closed at this point the post-closing trial balance will not include income expense and withdraw...