1. Section 2Posting Closing Entries and Preparing a Post-Closing Trial Balance What You’ll Learn  How to record closing entries in the general ledger.  The purpose of a post-closing trial balance.  How to prepare a post-closing trial balance. What You’ll Learn  How to record closing entries in the general ledger.  The purpose of a post-closing trial balance.  How to prepare a post-closing trial balance.

2. Why It’s Important A post-closing trial balance verifies that the closing entries are properly recorded in the general ledger and that you are ready to start the next accounting period. Why It’s Important A post-closing trial balance verifies that the closing entries are properly recorded in the general ledger and that you are ready to start the next accounting period. Section 2Posting Closing Entries and Preparing a Post-Closing Trial Balance (cont'd.) Key Terms  post-closing trial balance Key Terms  post-closing trial balance

3. Completing the Eighth Step in the Accounting Cycle: Posting Closing Entries to the General Ledger Section 2Posting Closing Entries and Preparing a Post-Closing Trial Balance (cont'd.)

4. The Ninth Step in the Accounting Cycle: Preparing a Post-Closing Trial Balance Section 2Posting Closing Entries and Preparing a Post-Closing Trial Balance (cont'd.)  Prepared to make sure total debits equal total credits after the closing entries are posted.

5. Check Your Understanding After the closing process,what types of accounts have balances other than zero, and what types of accounts have zero balances? Section 2Posting Closing Entries and Preparing a Post-Closing Trial Balance (cont'd.)