The postclosing trial balance is created to verify that the balances of the revenue , expense, and drawing accounts are zero.
The entire income from sales of goods and services that are directly connected to a company's primary business operations is referred to as revenue in the context of accounting. Other phrases for commercial revenue include sales and turnover. Revenue is the total sum of money gained through the sale of goods or services pertaining to a company's primary activities. Because it appears at the top of the income statement, revenue, also known as gross sales, is frequently called the "top line." Profit is the net money left over after deducting costs from earnings, whereas revenue is the income created by business operations. Sales, income from fees, and income from property are just a few examples of the different ways that money might come in.
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