Question

The list of all open accounts in the ledger and their balances. The trial balance taken immediately after all adjustments have been posted is called an adjusted trial balance. A trial balance taken immediately after closing entries have been posted is called a post-closing (or after-closing) trial balance.

Answer 1

A trial balance is a list of open accounts and their balances. An adjusted trial balance is taken after adjustments have been made. A post-closing trial balance is taken after closing entries have been made.

Step-by-step explanation:

A trial balance is a list of all open accounts in the ledger and their balances. It is usually prepared at the end of an accounting period to ensure that the debits and credits are equal and the books are in balance.

An adjusted trial balance is taken immediately after all adjustments have been posted to the ledger. It reflects the updated account balances after adjusting entries have been made.

A post-closing trial balance is taken immediately after the closing entries have been posted. It shows the final balances of all the accounts after the revenues and expenses have been closed to the retained earnings account.