Transition in the past - question of execution

We are about to run a test for transitioning existing leases in Oracle from ASC840 to ASC842

The transition date for our subject OU is 10/1/2019.  But we will be run the Calculate Balances as on Transition date in the month of November.  We have not attempted this before in our test environment, and I am trying to predict what will happen.

If we set compliance options in System Options to transition on 10/1/19, the run Calculate balances as on transition date on 11/1/19, with option of Modified Retrospective method, will the calculations go back and consider the calculations as of the transition date.