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Get the free Post-Closing Trial Balance as of 6/30/16. Post-Closing Trial Balance as of 6/30/16

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1CSTARG02 0971 (BEST: A1 OTL1) BY,0,0,0,1,, ,, ,,, ********** RUN:08/12/16 TIME:06.00 PRIOR FISCAL YEAR: 2015 0(ORG)******************* 1(FUND) FUND(ALL)********* CA ALT ENERGY/ADVANCED TRANSIT FINANCING
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01
To fill out a post-closing trial balance, follow these steps:
02
Gather all the necessary financial information such as the general ledger, journal entries, and adjusting entries.
03
List all the ledger accounts and their respective balances after all the closing entries have been made.
04
Calculate and record the total debit and credit amounts for each account.
05
Verify that the total debits equal the total credits, which ensures the accounts are in balance.
06
Prepare the post-closing trial balance by arranging the accounts in the same order as the chart of accounts.
07
Review the trial balance for any discrepancies or errors.
08
Make any necessary adjustments or corrections if errors are found.
09
Finalize the post-closing trial balance by printing a physical copy and storing it for reference.

Who needs post-closing trial balance as?

01
Post-closing trial balance is needed by:
02
- Accountants and bookkeepers to ensure that all temporary accounts have been closed properly and the balances are accurate.
03
- Financial managers and executives to assess the financial position of a business after the closing entries have been made.
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- External auditors to verify the accuracy of the financial statements and ensure compliance with accounting standards.
05
- Investors and stakeholders to evaluate the financial performance and stability of a company.
06
- Regulatory agencies and tax authorities to review the financial records for auditing and tax purposes.
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Post-closing trial balance is a list of all balance sheet accounts after the closing entries have been made.
Companies and organizations are required to prepare and file post-closing trial balance.
To fill out a post-closing trial balance, list all balance sheet accounts and their balances after closing entries have been made.
The purpose of post-closing trial balance is to ensure that all temporary accounts have been closed and to verify the accuracy of the financial statements.
Post-closing trial balance must include all balance sheet accounts and their corresponding balances after closing entries.
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