What is Post Closing Trial Balance - Definition - Meaning - Examples - Explanation
We already studied about Adjusted Trial Balance which is prepared at the time of preparing Adjusting Entries in order the adjust the balance of All Types of Accounts but post closing trial balance is prepared to show only Permanent Accounts which are Assets , Liabilities And Equity and not Temporary Accounts which are Expenses , Revenues and Income Summary Account. So, Trial Balance is prepared after passing Closing Entries in order the verify the balances of Permanent Accounts or to check the totals of Debits with the totals of Credits consisting of these Accounts . ABC Co. Post Trial Balance 31 st December, 2017 Debit ...