Which of the following accounts will NOT appear on the post-closing trial balance?
A)Wages Expense
B)Equipment
C)Wages Payable
D)Prepaid Advertising

Question

Quizplus · Accepted Answer

Wages Expense is an income statement account that is closed to Retained Earnings at the end of the accounting period. The post-closing trial balance includes only balance sheet accounts, which are accounts that have balances carried over into the next accounting period. Equipment, Wages Payable, and Prepaid Advertising are all balance sheet accounts and would appear on the post-closing trial balance.

Which of the Following Accounts Will NOT Appear on the Post-Closing