A list of the accounts and their balances at the end of the accounting period after closing entries have been journalized and posted.
The accounting cycle ends with the preparation of a post-closing trial balance. This trial balance lists the accounts and their adjusted balances after closing.
Only assets, liabilities, common stock, and retained earnings appear on the post-closing trial balance.
The following post-closing trial balance was prepared after posting the closing entries of Bold City Consulting to its general ledger and calculating new account balances.
Figure 1: Post- Closing Trial Balance