26 Prepare a Post-Closing trial Balance

The ninth, and typically final, step of the procedure is come prepare a post-closing psychological balance. Words “post” in this instance method “after.” You are preparing a trial balance after the closing entries space complete.

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Like every trial balances, the post-closing attempt balance has actually the job of verifying that the debit and also credit totals are equal. The post-closing psychological balance has actually one extr job that the various other trial balances execute not have. The post-closing psychological balance is likewise used to double-check the the only accounts through balances after the closing entries are long-term accounts. If over there are any temporary accounts on this attempt balance, girlfriend would understand that there to be an error in the close up door process. This error have to be addressed before starting the brand-new period.

The process of prepare the post-closing trial balance is the very same as you have done when preparing the unadjusted trial balance and adjusted trial balance. Just permanent account balances should appear on the post-closing trial balance. These balances in post-closing T-accounts room transferred end to either the debit or credit column on the post-closing psychological balance. When all accounts have been recorded, complete each column and also verify the columns equal each other.

The post-closing psychological balance for Printing to add is displayed in (Figure).


(Figure)Identify i beg your pardon of the following accounts would be provided on the company’s Post-Closing psychological Balance.

Accounts ReceivableAccumulated DepreciationCashOffice ExpenseNote PayableRent RevenueRetained EarningsUnearned rent Revenue

(Figure)Identify i beg your pardon of the complying with accounts would certainly not be listed on the this firm Post-Closing psychological Balance.

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(Figure)The adhering to Post-Closing psychological Balance consists of errors. Prepare a corrected Post-Closing trial Balance:


(Figure)Assuming the following readjusted Trial Balance, develop the Post-Closing attempt Balance that would result after every closing journal entries were made and also posted:


(Figure)Assuming the following adjusted Trial Balance, re-create the Post-Closing attempt Balance the would an outcome after all closing newspaper entries were made and also posted:


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