The post closing trial balance for a company will not contain an account balance for:

Question

Quizplus · Accepted Answer

The post-closing trial balance is created after all the temporary accounts, including revenues, have been closed to Retained Earnings or to a separate Income Summary account. Therefore, there will be no account balance for revenues on the post-closing trial balance. The post-closing trial balance will include balances for Retained Earnings, assets, and liabilities, as these are permanent accounts on the balance sheet.

The Post Closing Trial Balance for a Company Will Not