The Post‐Closing Trial Balance

After the closing entries are journalized and posted, only permanent, balance sheet accounts remain open. A post‐closing trial balance is prepared to check the clerical accuracy of the closing entries and to prove that the accounting equation is in balance before the next accounting period begins.

The Greener Landscape Group Post-Closing Trial Balance April 30, 20X2

Account

Debit

Credit

100

Cash

$ 6,355

110

Accounts Receivable

200

140

Supplies

25

145

Prepaid Insurance

1,100

150

Equipment

3,000

151

Accumulated Depreciation–Equipment

$ 35

155

Vehicles

15,000

156

Accumulated Depreciation-Vehicles

200

200

Accounts Payable

50

210

Wages Payable

80

220

Interest Payable

79

250

Unearned Revenue

225

280

Notes Payable

10,000

300

J. Green, Capital

15,011

$25.680

$25,680

Since there are several types of errors that trial balances fail to uncover, each closing entry must be journalized and posted carefully.