The post-closing trial balance
Objective: Prepare and check a post-closing trial balance.
Recommended first: Closing entries
After closing, a post-closing trial balance should list only assets, liabilities, and Owner Capital — no revenue, expense, drawings, or Income Summary. Its totals are usually lower than the adjusted trial balance because temporary accounts are gone.
The post-closing trial balance is the final check before a new period begins. Any revenue, expense, or drawings balance means a closing entry was missed. The remaining balances become the opening balances of the next period, so accuracy here carries forward.
Its totals are lower than the adjusted trial balance because temporary accounts are gone, and Owner Capital now includes the period's net income less drawings. Compare that capital figure with the ending balance on the statement of owner's equity.
Check your work
- Are only permanent accounts listed?
- Do totals agree?
- Does Owner Capital equal the ending equity figure?
Income Summary has a $600 debit balance (loss).
| Account | Debit | Credit |
|---|---|---|
| Owner Capital | $600.00 | |
| Income Summary | $600.00 |
Common mistakes
✗ A revenue account still showing a balance.
✓ A closing entry was missed.
Guided practice
Use hints freely here.
Item 1 of 1
Close Income Summary (loss)
After closing revenues and expenses, Silverline Photography's Income Summary has a $1,800.00 debit balance. Close it to Owner Capital.
Checking answers on Pro items requires a Pro or Lifetime plan. See plans.
Independent practice
Try these without hints. Completing the lesson needs at least one independent item solved without revealing the answer.
Item 1 of 3
Which accounts are closed?
Select every account that is closed (brought to zero) at the end of the period.
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Key terms
- Post-closing trial balance
- A trial balance after closing entries.
References and provenance
- OpenStax, Principles of Accounting, Volume 1: Financial Accounting (accessed 2026-10-29)
Original lesson written for Bookkeeping Exercises (AI-assisted drafting). Calculations are verified by the platform's automated accounting tests. Not yet reviewed by a credentialed accountant. Updated 2026-10-29.