Assuming the following Adjusted Trial Balance, recreate the Post-Closing Trial Balance that would result after all closing
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Assuming the following Adjusted Trial Balance, recreate the Post-Closing Trial Balance that would result after all closing journal entries were made and posted:
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Adjusted Trial Balance Debit $17,900 9,900 1,600 2,500 Cash Accounts Receivable Supplies Prepaid Insurance Salaries Payable Common Stock Retained Earnings Dividends Service Fee Revenue Salaries Expense Supplies Expense Insurance Expense 4,000 16,900 4,200 1,450 $58,450 Credit $ 8,600 10,000 2,800 37,050 $58,450
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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