After the accounts are closed and the journal entries have been posted,which of the following accounts would have a balance?
A) Payroll Taxes Expense
B) Miscellaneous Expense
C) Professional Expense
D) Supplies

Question

Quizplus · Accepted Answer

The Supplies account may still have a balance after the accounts are closed and journal entries are posted if there are any unused supplies remaining. The other accounts, Payroll Taxes Expense, Miscellaneous Expense, and Professional Expense, are all temporary accounts that are closed at the end of the accounting period, resulting in a zero balance.

After the Accounts Are Closed and the Journal Entries Have