A company had a normal $51,000 cash balance on their adjusted trial balance. If revenues, expenses and dividends respectively were $91,000; $20,000 and $3,000 what amount of cash will be found on the post-closing trial balance?

Question

Quizplus · Accepted Answer

The post-closing trial balance includes only balance sheet accounts, and revenues, expenses, and dividends are closed to retained earnings. Therefore, the cash balance remains unchanged at $51,000.

A Company Had a Normal $51,000 Cash Balance on Their