Which of the following accounts will not normally have a zero balance after the closing entries have been posted?
A) Income Summary
B) Fees Income
C) The owner's capital account
D) Rent Expense

Question

Quizplus · Accepted Answer

The owner's capital account is a permanent account and does not get closed at the end of the accounting period, so it will not have a zero balance after closing entries.

Which of the Following Accounts Will Not Normally Have a Zero