In: Accounting
Which of the following accounts appear on the adjusted trial balance but not on the post-closing trial balance?
a. |
revenue, expenses, capital |
|
b. |
revenue, expenses, unearned revenue |
|
c. |
revenue, expenses, income summary |
|
d. |
revenue, expenses, withdrawals |
The capital balance on the adjusted trial balance equals the
a. |
ending capital balance |
|
b. |
beginning capital balance |
|
c. |
beginning capital balance plus net income |
|
d. |
beginning capital balance plus investments this period |
1 |
Revenue, expenses, withdrawals appear on the adjusted trial balance but not on the post-closing trial balance. |
Revenue, expenses, withdrawals are temporary accounts and are closed at the end of period. |
Option D is correct |
2 |
The capital balance on the adjusted trial balance equals the beginning capital balance plus investments this period |
Option D is correct |