Solution-Explain the purpose of a post-closing trial balance

Explain the purpose of a post-closing trial balance

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Reference no: EM13843001

Answer the following questions. Submit this portion as a Word document or Excel spreadsheet.

The following is the trial balance for Eazy Services, Inc.:

Eazy Services, Inc. Trial Balance For the Year Ended December 31, 201X
	DR	CR
Cash	$50,250
Accounts Receivable	27,900
Office Equipment	45,000
Accounts Payable		42,250
Common Stock		60,300
Dividends	2,500
Retained Earnings		00
Sales Revenue		65,000
Salary Expense	33,650
Operating Expense	8,250
	167,550	167,550

1. Prepare an Income Statement, Statement of Changes in Stockholders' Equity and a Balance Sheet. (Assume that the company issued $60,300 of common stock on January 2, 201X. The business started on January 2, 201X)

2. Explain the purpose of a post-closing trial balance.

Reference no: EM13843001

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Explain the purpose of a post-closing trial balance : Prepare an Income Statement, Statement of Changes in Stockholders' Equity and a Balance Sheet. (Assume that the company issued $60,300 of common stock on January 2, 201X. Explain the purpose of a post-closing trial balance.

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Explain the purpose of a post-closing trial balance

Reference no: EM13843001

Reference no: EM13843001

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