Select the statements below that describe the purpose of a post-closing trial balance. Multiple...
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Select the statements below that describe the purpose of a postclosing trial balance. Multiple select question. One purpose is to verify that total debits equal total credit for permanent accounts. One purpose is to verify that total debits equal total credits for all temporary accounts. 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 permanent accounts have zero balances. One purpose is to verify that all temporary accounts have zero balances.. Credit to Owner, Withdrawals for $ A debit to Income Summary for $ Credit Insurance Expense for $ Debit Supplies Expense $ Debit Insurance Expense for $
Select the statements below that describe the purpose of a postclosing trial balance.
Multiple select question.
One purpose is to verify that total debits equal total credit for permanent accounts.
One purpose is to verify that total debits equal total credits for all temporary accounts.
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 permanent accounts have zero balances.
One purpose is to verify that all temporary accounts have zero balances..
Credit to Owner, Withdrawals for $
A debit to Income Summary for $
Credit Insurance Expense for $
Debit Supplies Expense $
Debit Insurance Expense for $
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