The post-closing trial balance differs from the adjusted trial balance in that it does not

include income statement accounts
take into account adjusting entries
take into account closing entries
include balance sheet accounts

Expert Solution

Answer - The post closing trial balance differs from the adjusted trial balance in that it does not include income statement accounts.

After the closing entries are posted, only permanent balance sheet accounts remain open. A post-closing trial balance is prepared to check the accounting accuracy of the closing entries and to verify that the accounting equation is in balance before the next accounting period starts.

ekkarill92 answered 2 years ago

Which of the following accounts appear on the adjusted trial balance but not on the post-closing...

Which of the following accounts appear on the adjusted trial balance but not on the post-closing trial balance? a. revenue, expenses, capital b. revenue, expenses, unearned revenue c. revenue, expenses, income summary d. revenue, expenses, withdrawals The capital balance on the adjusted trial balance equals the a. ending capital balance b. beginning capital balance c. beginning capital balance plus net income d. beginning capital balance plus investments this period

Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial...

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Explain the difference between the adjusted trial balance and the post-closing trial balance. Explain what Retained...

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Prepare a post closing trial balance

Prepare a post closing trial balance.

Prepare a post-closing trial balance.

Below is the closing entries for the year ended December 31, 2017 (b2) Prepare a post-closing trial balance. Crane Company Post-Closing Trial Balance Debit Credit Totals

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Why does the Capital on Post-closing Trial Balance increase? How to convert Journalize&Post the closing entries...

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Exercise 4-6 Preparing closing entries and the post-closing trial balance LO2,3,4 CHECK FIGURE: Post-closing trial balance...

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What is the purpose of the post-closing trial balance?

Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance. The following information applies to...

Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance. The following information applies to the questions displayed below.] Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year ended on September 30, 2018. Accounts Payable $ 602 Accounts Receivable 302 Accumulated Depreciation 902 Cash 302 Common Stock 202 Deferred Revenue 202 Depreciation Expense...

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