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Verify Ending Balances Glossary

1 Verify Ending Balances GlossaryActivity 1.a – Calculate post-closing ending balancesVerify all ending balances for each specific account after closing entries are journalized and posted. Be sure to enter all zero balances on the normal balance side and enter balances for permanent accounts! find the balance for the few questions below:Bright, CapitalDec. 3120,40036,000Adj. Bal.6,200Dec. 31Bal.?*** What’s the balance**** ?Income SummaryDec. 315,30019,200Dec. 3113,900Bal.Dec. 3113,900Bal.?*** What’s the balance***?

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