A post-closing trial balance could include all of the following accounts except the:
A)Accounts Receivable account.
B)Fees Income account.
C)owner's capital account.
D)Cash account.

Question

Quizplus · Accepted Answer

A post-closing trial balance includes all balance sheet accounts that have a balance after closing entries are made. The Fees Income account, being a revenue account, would have a zero balance after closing entries are made, as revenues, expenses, and dividends (or withdrawals) are closed to the owner's equity or retained earnings account. Accounts Receivable, Owner's Capital, and Cash are all balance sheet accounts that can have balances after closing entries.

A Post-Closing Trial Balance Could Include All of the Following