Adjusting entries are used to: A) Close temporary accounts at year end B) Close permanent accounts at year-end C) Bring account balances up to date at year end D) All of the choices are correct Group of answer choices A B C D

Multiple Select Question Select all that apply Select the statements below that describe the purpose of a post-closing trial balance. (Check all that apply.) ☐One purpose is to verify that total debits equal total credits for all temporary accounts. One purpose is to verify that all permanent accounts have zero balances. One purpose is to confirm that if debits equal credits then no errors in journalizing and positing occurred during the period. □ One purpose is to verify that all temporary accounts have zero balances. ☐One purpose is to verify that total debits equal total credit for permanent accounts.

balance. Use the closing entry numbers as posting references to post each closing entry to the relevant accounts, then compute the ending balance of each account Label the ending balances with End. Bal. (For accounts with a 50 ending balance, select "End. Bal." and enter "0" on the normal balance side of the t-account.) Review the closing entries you prepared above. Adj. Bal. Closing entry 1 End. Bal. Adj. Bal Closing entry 1 End. Bal. Adj. Bal Closing entry 1 End. Bal. Closing entry 1 Closing entry 2 End. Bal. Closing entry 1 Closing entry 2 End. Bal. Cash 1,734,900 0 0 Supplies 250,000 0 0 360,000 0 0 Equipment 0 0 Accounts Payable 1,275,000 1,734,000 0 0 280.000 0 Closing entry 2 O Closing entry 3 End. Bal. 250,000 Wages Payable 0 Closing entry 2 0 Closing entry 3 End. Bal. 0 Closing entry 2 0 Closing entry 3 360,000 End. Bal. 1,275,000 Adj. Bal. 0 Closing entry 3 0 End. Bal. 280,000 Adj. Bal. 0 Closing entry 3 0 End. Bal. Adj. Bal. Closing entry 1 End. Bal. Adj. Bal. Closing entry…

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