The post-closing trial balance will:
A) be prepared before closing entries are posted to the ledger.
B) contain both income statement and balance sheet accounts.
C) contain only balance sheet accounts.
D) contain only income statement accounts.

Question

Quizplus · Accepted Answer

The post-closing trial balance contains only balance sheet accounts because all income statement accounts are closed to retained earnings at the end of the accounting period.

The Post-Closing Trial Balance Will