Which of the following accounts will NOT appear on the post-closing trial balance?
A) Capital
B) Cash
C) Accounts Payable
D) Withdrawals

Question

Quizplus · Accepted Answer

The post-closing trial balance is prepared after all closing entries have been made to transfer the balances of temporary accounts (revenue, expenses, and withdrawals) to the permanent capital account. Therefore, withdrawals, which is a temporary account, will not appear on the post-closing trial balance. Capital, Cash, and Accounts Payable are permanent accounts and will appear on the post-closing trial balance.

Which of the Following Accounts Will NOT Appear on the Post-Closing