Why is a postclosing trial balance prepared?
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Why is a postclosing trial balance prepared?
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Post closing trial balance helps avoiding errors and any differences between debits and cr...View the full answer
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Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd 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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