The post-closing trial balance will contain only owner's equity statement accounts and balance sheet accounts.

Name: The post-closing trial balance will contain only owner's equity statement accounts and balance sheet accounts.
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Question

Quizplus · Accepted Answer

The post-closing trial balance contains balance sheet accounts only, as all income statement accounts, dividends, and withdrawals are closed to the owner's equity or retained earnings account at the end of the accounting period.

The Post-Closing Trial Balance Will Contain Only Owner's Equity Statement