The owner's Capital account will always have a zero balance after the closing entries are posted.
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Q71: The post-closing trial balance contains only asset,
Q72: The debit to Income Summary in the
Q73: Closing entries are posted to the work
Q74: A post-closing trial balance will include only
Q75: After closing the expense accounts, the total
Q77: If Income Summary has a credit balance
Q78: The balance in the owner's Capital account
Q79: The purpose of the post-closing trial balance
Q80: The Income Summary account balance should always
Q81: Match the terms that follow with the
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