Which of the following accounts will have an ending balance after the closing process is completed?
A)Owner's Name, Withdrawals
B)Rent Expense
C)Accumulated Depreciation-Furniture
D)Service Revenue

Question

Quizplus · Accepted Answer

Accumulated Depreciation-Furniture is a permanent account and will have an ending balance after the closing process, unlike temporary accounts such as withdrawals, expenses, and revenues which are closed to zero.

Which of the Following Accounts Will Have an Ending Balance