26 Prepare a Post-Closing trial Balance

The ninth, and also typically final, action of the process is come prepare a post-closing trial balance. The word “post” in this instance way “after.” You are preparing a attempt balance after the closing entries room complete.

You are watching: The post-closing trial balance contains only permanent accounts.

Like all trial balances, the post-closing attempt balance has the job of verifying that the debit and credit totals room equal. The post-closing attempt balance has one additional job that the various other trial balances perform not have. The post-closing attempt balance is likewise used to double-check that the just accounts through balances after the closing entries are long-term accounts. If there are any type of temporary accounts on this trial balance, friend would recognize that there to be an error in the closeup of the door process. This error must be addressed before beginning the new period.

The process of prepare the post-closing trial balance is the exact same as you have actually done once preparing the unadjusted psychological balance and changed trial balance. Only permanent account balances should appear on the post-closing attempt balance. This balances in post-closing T-accounts are transferred end to one of two people the debit or credit tower on the post-closing psychological balance. When all accounts have been recorded, complete each column and also verify the columns same each other.

The post-closing trial balance for Printing plus is presented in (Figure).


(Figure)Identify which of the complying with accounts would be provided on the company’s Post-Closing trial Balance.

Accounts ReceivableAccumulated DepreciationCashOffice ExpenseNote PayableRent RevenueRetained EarningsUnearned rent Revenue

(Figure)Identify which of the following accounts would certainly not be detailed on the this firm Post-Closing attempt Balance.

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(Figure)The complying with Post-Closing attempt Balance has errors. Prepare a repair Post-Closing trial Balance:


(Figure)Assuming the following changed Trial Balance, develop the Post-Closing attempt Balance that would result after every closing newspaper entries were made and posted:


(Figure)Assuming the following readjusted Trial Balance, re-create the Post-Closing attempt Balance that would an outcome after every closing journal entries to be made and also posted:


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