The post closing trial balance contains balance sheet accounts only

Asked by admin @ 05/11/2021 in Business viewed by 318 People

A post closing trial balance is a list of permanent accounts and their balances afterclosing entries have been journalized and recorded in the accounting system. These accounts will be carried forward and become the opening balances for the next accounting period.

Answered by admin @ 05/11/2021

Answer:

Post closing trail balance

Explanation:

As we know that

In the trial balance, it contains two sections. The one is debit that recorded expenses, and assets whereas another one are credit that recorded liabilities, revenues, and the stockholder equity

The post-closing trial balance is that trial balance that is made after passing the closing entries with respect to revenues, expenditure, dividend, net profit or net income.

The motive of this to balance the debit and the credit section which should be zero. Moreover, it is to be carried forward that would become the starting balance of the next accounting period.

Able, baker, and charles are engaged in the marketing to and enrollment of beneficiaries into medicare health plans. mr. able is an independent agent paid directly by a health plan. ms. baker is an independent agent paid through a field marketing organization (fmo). mr. charles is an independent agent paid for his work by a third-party marketing organization (tmo). how do the cms compensation rules apply to these three agents?

Asked by maham237 @ 13/01/2021 in Business viewed by 2742 persons

The post closing trial balance contains balance sheet accounts only

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