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Post Closing Trial Balance Example. Since the closing entries transfer the balances of temporary accounts (i.e. expense, revenue, gain, dividend and withdrawal accounts) to the retained earnings account, the new balances of temporary accounts are zero and therefore they are not. Nominal accounts are those that are found in the income statement, and withdrawals.

Hence, Companies use this tool to ensure that all debit balances are equal to the total of all credit balances after an accountant passes closing entries. A post-closing trial balance is a listing of all balance sheet accounts containing non-zero balances at the end of a reporting period. The post closing trial balance reveals the balance of accounts after the closing process, and consists of balance sheet accounts only.

There can be various reasons for preparing a post-closing trial balance.

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A trial balance prepared after closing entries are posted is called a. It is important to note that the post-closing trial balance contains only balance items accounts. The post-closing trial balance is used to verify that the total of all debit balances equals the total of all credit balances, which should net to zero. b. prepare the post-closing trial balance. c. prepare the worksheet. d. journalize and post the adjusting entries. c. prepare the worksheet.

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