Financial Accounting
15th Edition
ISBN: 9781337272124
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 4, Problem 19E
An accountant prepared the following post-closing
Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
a post-adjustment trial balance reflects the balances and totals of accounts in the general ledger before any adjustments are made. true or false
It is prepared with an objective to test the arithmetic accuracy of the accounts
a.
Ledger
b.
Books of Prime entry
c.
Trial Balance
d.
Journal
Rearrange the following steps in the accounting cycle in proper sequence:
Transactions are analyzed and recorded in the journal.
An unadjusted trial balance is prepared.
Transactions are posted to the ledger.
Adjustment data are assembled and analyzed.
An adjusted trial balance is prepared.
Adjusting entries are journalized and posted to the ledger.
An optional end-of-period spreadsheet is prepared.
A post-closing trial balance is prepared.
Financial statements are prepared.
Closing entries are journalized and posted to the ledger.
Chapter 4 Solutions
Financial Accounting
Ch. 4 - Prob. 1DQCh. 4 - Describe the nature of the assets that compose the...Ch. 4 - Prob. 3DQCh. 4 - Prob. 4DQCh. 4 - Why are closing entries required at the end of an...Ch. 4 - Prob. 6DQCh. 4 - What is the purpose of the post-closing trial...Ch. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - Recent fiscal years for several well-known...
Ch. 4 - The balances for the accounts that follow appear...Ch. 4 - The balances for the accounts that follow appear...Ch. 4 - Marcie Davies owns and operates Gemini Advertising...Ch. 4 - Blake Knudson owns and operates Grab Bag Delivery...Ch. 4 - The following accounts appear in an adjusted trial...Ch. 4 - Prob. 3PEBCh. 4 - After the accounts have been adjusted at December...Ch. 4 - After the accounts have been adjusted at April 30,...Ch. 4 - From the following list of steps in the accounting...Ch. 4 - From the following list of steps in the accounting...Ch. 4 - Current assets and current liabilities for HQ...Ch. 4 - Current assets and current liabilities for...Ch. 4 - The balances for the accounts that follow appear...Ch. 4 - Balances for each of the following accounts appear...Ch. 4 - Bamboo Consulting is a consulting firm owned and...Ch. 4 - Elliptical Consulting is a consulting firm owned...Ch. 4 - The following account balances were taken from the...Ch. 4 - Prob. 6ECh. 4 - FedEx Corporation had the following revenue and...Ch. 4 - Apex Systems Co. offers its services to residents...Ch. 4 - Selected accounts from the ledger of Restoration...Ch. 4 - Ex 410 Classifying assets Identify each of the...Ch. 4 - At the balance sheet date, a business owes a...Ch. 4 - Optimum Weight Loss Co. offers personal weight...Ch. 4 - List the errors you find in the following balance...Ch. 4 - Prob. 14ECh. 4 - Prior to closing, total revenues were 12,840,000...Ch. 4 - Assume that the entry closing total revenues of...Ch. 4 - Stylist Services Co. offers its services to...Ch. 4 - Which of the following accounts will usually...Ch. 4 - An accountant prepared the following post-closing...Ch. 4 - Rearrange the following steps in the accounting...Ch. 4 - The following data (in thousands) were taken from...Ch. 4 - The following data (in thousands) were taken from...Ch. 4 - Prob. 23ECh. 4 - Alert Security Services Co. offers security...Ch. 4 - Alert Security Services Co. offers security...Ch. 4 - Based on the data in Exercise 4-25, prepare an...Ch. 4 - Prob. 27ECh. 4 - Prob. 28ECh. 4 - Prob. 29ECh. 4 - On the basis of the following data, (a) journalize...Ch. 4 - On the basis of the following data, (a) journalize...Ch. 4 - Portions of the wages expense account of a...Ch. 4 - Portions of the salaries expense account of a...Ch. 4 - Beacon Signals Company maintains and repairs...Ch. 4 - Finders Investigative Services is an investigative...Ch. 4 - The unadjusted trial balance of Epicenter Laundry...Ch. 4 - The unadjusted trial balance of Lakota Freight Co....Ch. 4 - For the past several years, Jolene Upton has...Ch. 4 - Last Chance Company offers legal consulting advice...Ch. 4 - The Gorman Group is a financial planning services...Ch. 4 - The unadjusted trial balance of La Mesa Laundry at...Ch. 4 - The unadjusted trial balance of Recessive...Ch. 4 - For the past several years, Jeff Horton has...Ch. 4 - The unadjusted trial balance of PS Music as of...Ch. 4 - Kelly Pitney began her consulting business, Kelly...Ch. 4 - New Wave Images is a graphics design firm that...Ch. 4 - Prob. 3CPCh. 4 - The following is an excerpt from a telephone...Ch. 4 - Prob. 5CP
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Identify the errors in the following trial balance. All accounts have normal balances.arrow_forwardBefore processing a batch of invoices, the accounts payable clerk sums the quantities billed. The sum obtained is best described as a(n): A. financial total B. grand total C. record count D. hash total E. cross-footing totalarrow_forwardThe purpose of the ledger is to: Group of answer choices a)record chronologically the day's transactions. b)keep a record of documentation to support each transaction. c)keep in one place all information about changes in specific account balances. d)make sure that all assets and liability accounts have normal balances at all times.arrow_forward
- What is keying? Im O Sorting account balances from the adjusted trial balance to their proper financial state O Adding initials to each work sheet column total to indicate that a verification took place O Adding an identifying letter to link the debit and the credit of an adjustment in the Adju O Totaling the two columns of the Adjusted Trial Balance to verify that debits equal creditarrow_forwardThe purpose of the post-closing trial balance is to a. provide the account balances for the preparation of the balance sheet. b. ensure that the ledger is in balance for completion of the worksheet. c. aid the journalizing and posting of the closing entries. d. ensure that the ledger is in balance for the start of the next period.arrow_forwardPrepare an unadjusted trial balance, in correct format, from the following alphabetized account information. Assume all the accounts have normal balances.arrow_forward
- Identify whether the following accounts would be included on a post-closing trial balance.arrow_forwardFor each account, identify whether it is included in a post-closing trial balance. a. Store Equipment b. Interest Payable c. Notes Receivable d. Rental Revenue e. Commission Revenue f. Accounts Receivable Included in post-closing trial balance?arrow_forwardHow do I word the data for adjustments in the trial balance?arrow_forward
- Complete the worksheet by entering adjustments and prepare adjusted trial balance.arrow_forwardShow the requisite journal entries to correct the balance.arrow_forward35. The purpose of the post-closing trial balance is to a. Provide the account balances for preparation of the balance sheet. b. Ensure that the ledger is in balance for the start of the next period. c. Aid the journalizing and posting of the closing entries. d. Ensure that the ledger is in balance for completion of the work sheet.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Financial AccountingAccountingISBN:9781337272124Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage Learning
Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College
Financial AccountingAccountingISBN:9781305088436Author:Carl Warren, Jim Reeve, Jonathan DuchacPublisher:Cengage Learning
College Accounting (Book Only): A Career ApproachAccountingISBN:9781337280570Author:Scott, Cathy J.Publisher:South-Western College Pub
College Accounting (Book Only): A Career ApproachAccountingISBN:9781305084087Author:Cathy J. ScottPublisher:Cengage Learning
Financial Accounting
Accounting
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
Financial Accounting
Accounting
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:South-Western College Pub
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cengage Learning
The accounting cycle; Author: Alanis Business academy;https://www.youtube.com/watch?v=XTspj8CtzPk;License: Standard YouTube License, CC-BY