Assuming the following Adjusted Trial Balance, create the Post-Closing Trial Balance that would result, after all closing
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Assuming the following Adjusted Trial Balance, create the Post-Closing Trial Balance that would result, after all closing journal entries were made and posted:
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Adjusted Trial Balance Cash Prepaid Insurance Fixed Assets Notes Payable Common Stock Retained Earnings Dividends Sales Revenue Automobile Expense Insurance Expense Salaries Expense Supplies Expense Debit $ 22,900 4,000 44,000 22,000 26,500 20,000 122,500 1,450 $263,350 Credit $ 40,000 25,000 48,350 150,000 $263,350
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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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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