Posting accounts to the post closing trial balance follows the exact
same procedures as preparing the other trial balances. Each account
balance is transferred from the ledger accounts to the trial balance.
All accounts with debit balances are listed on the left column and all
accounts with credit balances are listed on the right column.
The process is the same as the previous trial balances. Now the ledger accounts just have post closing entry totals.
An post closing trial balance is formatted the same as the other trial balances in the accounting cycle displaying in three columns: a column for account names, debits, and credits.
Since only balance sheet accounts are listed on this trial balance,
they are presented in balance sheet order starting with assets,
liabilities, and ending with equity.
As with the unadjusted and adjusted trial balances,
both the debit and credit columns are calculated at the bottom of a
trial balance. If these columns aren’t equal, the trial balance was
prepared incorrectly or the closing entries weren’t transferred to the
ledger accounts accurately.
As with all financial reports,
trial balances are always prepared with a heading. Typically, the
heading consists of three lines containing the company name, name of the
trial balance, and date of the reporting period.
The post closing trial balance is a list of all accounts and their balances after the closing entries
have been journalized and posted to the ledger. In other words, the
post closing trial balance is a list of accounts or permanent accounts
that still have balances after the closing entries have been made.
This accounts list is identical to the accounts presented on the
balance sheet. This makes sense because all of the income statement
accounts have been closed and no longer have a current balance. The
purpose of preparing the post closing trial balance is verify that all
temporary accounts have been closed properly and the total debits and
credits in the accounting system equal after the closing entries have
been made.
Answer:
the number of packs of cards sold is 810,000 units
Explanation:
The computation of the number of packs of cards sold is shown below:
Tax revenue = tax per good × goods
$48,600 = 0.06 × Q
Q =$48,600 ÷ 0.06
Q = 810,000
hence, the number of packs of cards sold is 810,000 units
We simply applied the above formula so that the correct value could come
And, the same is to be considered
The answer to this question is letter D. <span>The closing costs cover titles, taxes, and realtor costs. After closing, the only monetary obligation is to the lending party.
</span>Closing costs<span> are fees paid at the </span>closing<span> of a </span>real estate transaction<span>. It is called the </span>closing<span> when the </span>title<span> to the property is </span>conveyed<span> to the buyer. Closing costs then are incurred by the buyer or the seller, either of the two.</span>
Answer:
A
Explanation:
The way in which boundaries are managed can affect organisational function. For effective functioning, it is important to set up boundaries to create levels of distinctions and integration.
It is The boundary manager determines how a team can work with others that are interested in how the team performs and they persuade too management to support the teams work.
Answer: Automatic stabilizers
Explanation:
The automatic stabilizers are one of the type of fiscal policy that which are design for the economical fluctuation. It is mainly authorized by the government and also by the policy makers.
The automatic stabilizer is also known as the economical policy and the activity is done without any government intervention. In this system, the income and taxes are get decreased or increased in the business cycle.
Therefore, Automatic stabilizers is the correct answer.
