What is the purpose of the post-closing trial balance?
Question:
What is the purpose of the post-closing trial balance?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
The purpose of the postclosing tr...View the full answer
Answered By
Ayush Jain
Subjects in which i am expert:
Computer Science :All subjects (Eg. Networking,Database ,Operating System,Information Security,)
Programming : C. C++, Python, Java, Machine Learning,Php
Android App Development, Xamarin, VS app development
Essay Writing
Research Paper
History, Management Subjects
Mathematics :Till Graduate Level
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
What is the purpose of the post- closing trial balance? What is the difference between a trial balance and a post- closing trial balance?
-
What is the purpose of closing entries?
-
What is the purpose of closing entries? Why are they recorded in the journal and posted to the ledger?
-
Using the following graphs, match the market situation with the correct graph. Price 0 E1 E Q Q Quantity Graph C S 52 Price P 0 Which graph shows an increase in supply? Which graph shows a decrease...
-
Like all other businesses, Canadian Tire adjusts accounts prior to year-end to measure assets, liabilities, revenues, and expenses for the financial statements. Examine Canadian Tire's balance sheet...
-
An article in Solid State Technology ("Orthogonal Design for Process Optimization and Its Application in Plasma Etching," May 1987, pp. 127-132) describes the application of factorial designs in...
-
In 2022 interest rates were at a record low and the big banks in Australia made nearly $30 billion in in profits (Lannin 2022). Many Australians took advantage of record low interest rates to enter...
-
The AICPA provides a free Excel spreadsheet pro-gram that can be used to test data for consistency with Benfords Law. A link to this spreadsheet is available at www.pearsonhighered.com/rufus....
-
Suppose a Summons and Complaint were filed on February 16, 2021 and personally served on the defendant on March 1, 2021, please calendar the following dates: a the day Proof of Service of Summons and...
-
Selected transactions for Isabella Rossini Company SpA during its fi rst month in business are presented below. Sept. 1 Invested 10,000 cash in the business in exchange for ordinary shares. 5...
-
Describe the net effect of the four closing entries on the balance of the owners capital account. Where else is this same amount calculated?
-
List the 10 steps in the accounting cycle.
-
When should you engage an attorney? What criteria will you use in your decision?
-
Determine whether the ordered pair (8,5) is a solution to the following system. 5x-4y = 20 2x + 1 = 3y
-
Meyer Appliance Company makes cooling fans. The firm's income statement is as follows: Sales (7,000 fans at $20) $140,000 Less: Variable costs (7,000 fans at $8) 56,000 Fixed costs 44,000 Earnings...
-
Type of Bond Yield 1- year 0.2% 2- year 0.3 3- year 0.5 Using the expectations theory, compute the expected one-year interest rates in (a)the second year (Year 2 only) and (b)the third year (Year...
-
Fill in the missing values: Do not enter commas , % or $ signs. Remember to use 2 decimal places for all of your answers. Calculating Cost of Food Sold Food Sales $ 1 1 5 , 2 5 0 . 0 0 Opening...
-
The resolution of a telescope is ultimately limited by the diameter of its objective lens or mirror. A typical amateur astronomer's telescope may have a 6 . 0 5 in diameter mirror. What is the...
-
Using the Monte Carlo setup in Baltagi and Li (1995), study the performance of the tests proposed in Table 5.4. Table 5.4 Testing for serial correlation and individual effects Null hypothesis Ho...
-
Why did management adopt the new plan even though it provides a smaller expected number of exposures than the original plan recommended by the original linear programming model?
-
While obesity generally results in higher per-year medical costs, obese individuals do not typically have higher average lifetime medical costs than non-obese individuals because they do not live as...
-
Determine the maturity date for each of the following without the use of tables: Note Issued Length of Time a. July 17, 201X ..... 30 days b. July 14, 201X ..... 105 days c. July 31, 201X ..... 4...
-
Use the table in the text to prove your answers for Exercise 14B-2. In Exercise 14B-2. Note Issued Length of Time a. July 17, 201X ..... 30 days b. July 14, 201X ..... 105 days c. July 31, 201X ........
-
On May 15, 201X, Ramon Co. gave Silver Co. a 180-day, $9,000, 10% note. On July 14, Silver Co. discounted the note at 12%. a. Journalize the entry for Silver to record the proceeds. b. Record the...
-
Speculate sales : Speculate on the projected sales. Justify your product or service by the numbers; discuss your projected revenue gain. Note: it MUST have an ROI that justifies the project for...
-
8.6 In Figure P8.6 the experimental unit step response of a process system is shown. (a) What is the transfer function that can be used to best describe the system dynamics among the following. 1 (1)...
-
An 84 year old female arrives to the ER today with her son with a complaint of new onset of confusion. What are your differential diagnoses for a patient with new altered mental status? Go through...
Study smarter with the SolutionInn App