The purpose of the post-closing trial balance is to prove that the general ledger is in balance at the beginning of the new accounting period.

Question

Quizplus · Accepted Answer

The post-closing trial balance is prepared after the closing entries have been made to ensure that all temporary accounts have been closed and the permanent accounts have the correct balances to start the new accounting period. By proving that the total debits equal the total credits on the post-closing trial balance, it confirms that the general ledger is in balance and ready for the next period.

The Purpose of the Post-Closing Trial Balance Is to Prove