Reference no: EM132787545
Problem 1: The purpose of the post-closing trial balance is to
a. provide the account balances for the preparation of the balance sheet.
b. ensure that the ledger is in balance for completion of the worksheet.
C.aid the journalizing and posting of the closing entries.
d. ensure that the ledger is in balance Tor the start of the next period.
Problem 2: Which of the following accounts will appear on the post-closing trial balance?
a. building
b. depreciation expense-building
C. owner withdrawals
d. service revenues
Problem 3: A final check on the adjusting and closing process is provided by the
a. worksheet. C. post-closing trial balance.
b. financial statements. d. adjusted trial balance.
Problem 4: if the last item on a trial balance reads "Owner's Equity", this must be the
a. post-closing trial balance. C. adjusted trial balance.
b. unadjusted trial balance. d. reversed trial balance.
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