Which of the following do NOT show up on a post-closing trial balance?
A)Capital and liabilities
B)Assets and liabilities
C)Capital and assets
D)Revenues and expenses

Question

Quizplus · Accepted Answer

Revenues and expenses do not show up on a post-closing trial balance because they have already been closed out to the owner's equity accounts (such as retained earnings or capital) during the closing process. The purpose of a post-closing trial balance is to verify that all temporary accounts have been closed properly and that the balance sheet accounts (assets, liabilities, and equity) have accurate balances.

Which of the Following Do NOT Show Up on a Post-Closing