The post-closing trial balance does not include any assets or liabilities,because these accounts all have zero balances after closing entries.The post-closing trial balance does not include any revenues,expenses,or dividends,because these accounts all have zero balances after closing entries.

Question

Quizplus · Accepted Answer

The post-closing trial balance does include assets and liabilities because these accounts are not closed out and therefore do not have zero balances after closing entries. It does not include revenues, expenses, or dividends because these accounts are closed to Retained Earnings and do have zero balances after closing entries.

The Post-Closing Trial Balance Does Not Include Any Assets or Liabilities,because