1. LESSON 16-3
Preparing a Post-Closing
Trial Balance
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

2. 2
POST-CLOSING TRIAL BALANCE
page 496
1. Heading
2. Accounts that have
balances
1
3. Balances of asset accounts
3
2
5
4. Balances contra asset,
liability, and capital
accounts
4
6
5. Word Totals
6. Totals
7. Double lines
7
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 16-3

3. 3
ACCOUNTING CYCLE FOR A MERCHANDISING
BUSINESS ORGANIZED AS A CORPORATION
1
2
3
4
5
(continued on next slide)
page 497
1. Source documents are checked,
and transactions are analyzed.
2. Transactions are recorded in
journals.
3. Journal entries are posted to the
accounts payable ledger, the
accounts receivable ledger, and
the general ledger.
4. Schedules of accounts payable
and account receivable are
prepared from the subsidiary
ledgers.
5. A work sheet is prepared from the
general ledger.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 16-3

4. 4
ACCOUNTING CYCLE FOR A MERCHANDISING
BUSINESS ORGANIZED AS A CORPORATION
page 497
6. Financial statements are prepared.
7. Adjusting and closing entries are
journalized from the work sheet.
8. Adjusting and closing entries are
posted to the general ledger.
9. A post-closing trial balance of the
general ledger is prepared.
9
8
7
6
(continued from previous slide)
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 16-3