A post-closing trial balance is the final accounting report from the accounting cycle. The purpose of the post-closing trial balance is to A) determine the net income for the accounting period. The purpose of the post-closing trial balance is to A) prove that no mistakes were made. The purpose of the post-closing trial balance is to prove the equality of the balance sheet account balances that are carried forward into the next accounting period. The trial balance is a list of all the accounts a company uses with the balances in debit and credit columns. c) prove the equality of the permanent account balances that are carried forward into the next accounting period. The debit and credit sides of trial balance must be equal to indicate that maintenance of the ledger accounts under the double entry system is accurate. There are three types of trial balances: the unadjusted trial balance, the adjusted trial balance and the post- closing trial balance.All three have exactly the same format. prove the equality of the income statement account balances that are carried forward into the next accounting period. The trial balance is a brief summary of a company’s general ledger. Closing entries to the general ledger reduce the balance of each expense to zero; the accounts are not included in the post-closing trial balance. A post-closing trial balance is the final trial balance prepared before the new accounting period begins. Used to make sure that beginning balances are correct, the post-closing trial balance … C) prove the equality of the income statement account balances that are carried forward into the next accounting period. Example The format of this trial balance is similar to other trial balances in that it has a heading with the name of the company, the name of the report, and the date it was created. Retained Earnings Once the income statement accounts have been closed, net income is determined and dividends for the period are subtracted from net income. C) make sure that the ledger is in balance and that only permanent accounts are carried forward to the next accounting period. The trial balance is a list of debit and credit balances in the ledger accounts of a business at a given date. A post-closing trial balance is a listing of all balance sheet accounts containing non-zero balances at the end of a reporting period.The post-closing trial balance is used to verify that the total of all debit balances equals the total of all credit balances, which should net to zero. 44. list all the balance sheet accounts in alphabetical order for easy reference. b) prove that no mistakes were made. Post-Closing Trial Balance Purpose. The purpose of the post-closing trial balance is to: a) list all the balance sheet accounts in alphabetical order for easy reference. A post-closing trial balance is a list of balances of ledger accounts prepared after closing entries have been passed and posted to the ledger accounts.Since the closing entries transfer the balances of temporary accounts (i.e. The post closing trial balance lists all remaining accounts with balances after the closing entries have been posted to ensure that no temporary accounts still exist. Post Closing Trial Balance is the list of the all the balance sheet items along with their balances excluding the zero balance accounts and is used for the purpose of verification that temporary accounts are properly closed and the total of balances of all the debit accounts and … B) prove the equality of the balance sheet account balances that are carried forward into the next accounting period. The accounting cycle up till now already has seen the preparation of an unadjusted trial balance and an adjusted trial balance.Therefore, one might ask for the need of preparing yet another trial balance- the post-closing trial balance. B) make sure that only debit balances are carried forward to the next accounting period.

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