- Answer Self-Study Test Questions #5 & #1-3 on page 200–check your answers on page 214
- Do Checkpoint Exercise #2 on page 201–check your answer on page 215
LO3–Prepare a post-closing trial balance.
- WATCH THIS VIDEO
- Post-Closing Trial Balance (See Figure 6-10)
- Prepared to prove the total sum of the debit balances and the total sum of the credit balances in the general ledger accounts are equal.
- All amounts reflected on the post-closing trial balance are the same as in the Balance Sheet columns of the work sheet except drawing and capital which are changed during the closing process.
- In-Class Exercise: