The post-closing trial balance differs from the adjusted trial balance in that it does not
A)take into account owner investments and withdrawals.
B)take into account adjusting entries.
C)include income statement accounts.
D)include balance sheet accounts.

Question

Quizplus · Accepted Answer

The post-closing trial balance includes only balance sheet accounts since all income statement accounts would have been closed out to the retained earnings account as part of the closing process. Therefore, choices A, B, and D are incorrect.

The Post-Closing Trial Balance Differs from the Adjusted Trial Balance