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    Ms_Swalif's Avatar
    Ms_Swalif Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Dec 8, 2007, 08:21 AM
    Post Closing Trial Balance
    Hi guys ,

    Is there anything called Closing Trial balance?

    If yes, how can I find it out? :confused:
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Dec 8, 2007, 03:50 PM
    The closing Trial balance is done after the you have the Adjusted trial Balance then you do your Closing Entries to get to your Closing Trial Balance.

    Closing entries are to close out your temporary(Nominal) Accounts such as Revenues and Expenses to transfer them into your Permanent (Balance Sheet) Accounts.

    Your Closing Trial Balance is used for your post-closing balance sheet.
    betty23's Avatar
    betty23 Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Mar 29, 2009, 08:10 PM
    From the following accounts which would not appear in the post-closging trial balance?
    Unearned Service Fees Revenue
    Devidends
    Supplies
    Salaries payable
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #4

    Mar 30, 2009, 10:14 AM

    Only your balance sheet accounts will appear in a post-closing trial balance because they are permanent accounts.
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