After starting a new fiscal period on June 1st, the trial balance will show zero balances for Income Statement accounts on June 1st because -

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The May 31st accounts have been closed, which is a standard accounting procedure to reset the income statement accounts (revenues, expenses, gains, and losses) to zero at the beginning of a new fiscal period. This allows for accurate tracking of financial performance for the new period.

After Starting a New Fiscal Period on June 1st, the Trial