David B
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I think I understand. Yes, a trial balance should show the same number in the debit and credit column. The purpose of the report is to show what's been posted where, and to ensure that the accounts are "balanced". HTH |
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☆ღWifey Wifeyღ☆
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I'm an accountant and I really can't understand what you're trying to ask. Please try and make a little more sense. |
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Russ Bus
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you lost me at 10 |
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absteal
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can you retype this so we can understand the question. Please re-read what you wrote and correct your grammar, then I'll answer it.
thanks |
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g_for_G
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sounds like you need some english class first to write a better question. |
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Michael C
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dont really understand the question |
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crisdeee
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What? try asking in another way....I'm an acct. and have no clue what you are asking. |
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rathan d
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i really dont know wat ur asking |
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Sahara
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I don't understand your question with the way it is written.
Please reread and retype. It just doesn't make any sense in how it appears here. I'm sorry. I would like to help. |
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Navarro Wee
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in a trail balance its to check weather you have all the posting of transections been done correctly but so error might not appear in the trail balance. so debit and credit has to have the same amount. trail balance include the drawings and capital and also opening stock. not the closing stock. |
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vgordon_90
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Even though your wording in your question is hard to understand, I believe that I can answer correctly.
The post closing trial balance is exactly that: The debits and credits posted should be equal.
I hope that helps. |
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Dsalah s
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post closing trial balance is difference about trial balance, post closing there are not expenses or revenue |
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fivestring46
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A post closing trial balance is done after the closing entries have been made. Therefore, all revenue and expense accounts have a (0) balance.
After completing the work sheet, (which is only considered scrap paper by an accountant) The first formal statement you complet is the income statement. You then do a statement of owners equity, and finally the balance sheet. The balance sheet will contain the new capital balance from the statement of owners equity.
Closing entries must be completed to actually close the revenue and expense accounts.
When the post closing trial balance is completed, it will have only balance sheet accounts in it,(assets, liabilities and capital).
Assets = liabilities + capital/owners equity
The capital balance that goes on the post closing trial balance must be the new balance that is from the statement of owners equity, which should be the same as the capital balance displayed after closing entries.
I hope this helps. |
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gorgeous
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yah, the post closing trial balance is supposed to give you the same debit and credit. you see its like this..on the working paper, you have to present/extend the amounts on the debit and credit side. assets on the debit side, liabilities and capital on the credit side. drawings to capital are usually made the balancing figure by most students! |
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Mele Kai
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your debits and credits should be equal to your closing balance
if I remember right and understand u :) Go to the Professor or TA best for some help. Even the library at your school. Good luck. |
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