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Adjusted Trial balance Vs Post Closing Trial Balance

Trial balance is the list of closing balances of ledger accounts. Often we make it before passing the adjustment entries at the end of year. But if we make it after passing the adjustment entries, it will be adjusted trial balance. Effect of adjustment entries will include in adjusted trial balance. All closing balance of outstanding expenses, advance expenses, income receivables and advance incomes will be in this trial balance. So, we need not to show effect of this final accounts. For example, when we pass the adjustment entry of outstanding salary expenses, closing balance of salary will automatically increase in income statement, so we need not to add outstanding salary expenses in salary in our income statement.

When we make income statement after adjusted trial balance balance, we can make post closing trial balance. Post closing trial balance is made before making balance sheet. We do not include income and expenses accounts' balances in post closing trial balance. We just include assets, liabilities and capital accounts. Net profit from income statement will increase the capital balance in post-closing trial balance. Drawing will decrease the capital balance in post closing trial balance. Post closing trial balance is just like balance sheet but the format will be of trial balance. One side of this will be the debit balance and second side will be the credit balance.

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Accounting Education: Adjusted Trial balance Vs Post Closing Trial Balance
Adjusted Trial balance Vs Post Closing Trial Balance
Accounting Education
https://www.svtuition.org/2012/04/adjusted-trial-balance-vs-post-closing.html
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