Solution Found!
Preparing a Post-Closing Trial Balance Instructions Use the accounts shown on the next
Chapter 10, Problem 10-5(choose chapter or problem)
QUESTION:
Preparing a Post-Closing Trial Balance
Instructions Use the accounts shown on the next two pages to prepare a Dec. 31 post-closing trial balance for Hot Suds Car Wash.
Questions & Answers
QUESTION:
Preparing a Post-Closing Trial Balance
Instructions Use the accounts shown on the next two pages to prepare a Dec. 31 post-closing trial balance for Hot Suds Car Wash.
ANSWER:
Step 1 of 2
Trial balance refers to a bookkeeping work in which the balance of all ledger accounts is transferred. It has two columns in it, one is for debit balances and the second one is for credit balances. At the end of the trial balance, the balance of both debit and credit must be equal to prove arithmetic accuracy.