The balances that appear on the post-closing trial balance will match the
A) income statement account balances after adjustments.
B) statement of financial position account balances after closing entries.
C) income statement account balances after closing entries.
D) statement of financial position account balances after adjustments.

Question

Quizplus · Accepted Answer

The post-closing trial balance includes only accounts from the statement of financial position (balance sheet) and any accounts that were not closed at the end of the accounting period. Therefore, the balances that appear on the post-closing trial balance will match the statement of financial position account balances after closing entries.

The Balances That Appear on the Post-Closing Trial Balance Will