Accounting 10, 20, 30
Course Configurations
Explore the final step of the accounting cycle.
Indicators for this outcome
| (a) | Define post-closing trial balance and its purpose. |
| (b) | Prove the equality between debits and credits of the permanent accounts. |
| (c) | Rationalize why no temporary accounts will be in the post-closing trial balance. |
| (d) | Recognize the end-of-the month permanent account balances are new balances for the next month. |
| (e) | Examine the inquiry question: Why is it important to complete the post-closing trial balance at the end of a fiscal period? |
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