Why is a postclosing trial balance prepared? a. To ensure the general journal is in balance after
Question:
Why is a postclosing trial balance prepared?
a. To ensure the general journal is in balance after the adjusting and closing entries are journalized
b. To ensure the general ledger is in balance after the adjusting and closing entries are posted
c. To ensure that all transactions have been journalized
d. To ensure that all transactions have been posted
Step by Step Answer:
The correct answer is d To ensure that all transactions have been posted A p...View the full answer
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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