Asked by Hailey Mccarthy on Jul 01, 2024
Verified
The post-closing trial balance is entered in the first two columns of a worksheet.
Post-Closing Trial Balance
A financial statement prepared after closing entries are made, listing all account balances to ensure debits equal credits.
Worksheet
A paper or digital document used to organize and plan out data or calculations, often used in accounting and finance.
- Understand the link between worksheets, financial statements, and trial balances.
Verified Answer
RM
Raquel MartinezJul 02, 2024
Final Answer :
False
Explanation :
The post-closing trial balance is not entered in the first two columns of a worksheet; instead, the adjusted trial balance figures are entered in these columns. The post-closing trial balance is prepared after the closing entries are made and typically does not appear on the worksheet itself.
Learning Objectives
- Understand the link between worksheets, financial statements, and trial balances.
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