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One purpose of closing entries is to give zero balances to expense and capital accounts. revenue and expense accounts. liability and capital accounts. asset and liability accounts.
One purpose of closing entries is to give zero balances to revenue and expense accounts.
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Asked 2/23/2013 1:16:51 PM
Updated 1/20/2016 9:17:09 PM
1 Answer/Comment
Edited by Andrew. [1/20/2016 9:17:09 PM]
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One purpose of closing entries is to give zero balances to revenue and expense accounts.
Added 1/20/2016 4:43:29 PM
This answer has been confirmed as correct and helpful.
Confirmed by Andrew. [1/20/2016 9:17:11 PM]
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A postclosing trial balance could include al... A postclosing trial balance could include all of the following except the Accounts Receivable account. Fees Income account. owner's capital account. Cash account.
Weegy: A post closing trial balance would include account balances for assets, liabilities, stockholders equity, revenues, expenses and dividends (More)
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Updated 11/19/2016 9:09:26 AM
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A postclosing trial balance could include all of the following except fees income account.
Added 11/18/2016 12:43:02 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [11/19/2016 9:09:27 AM]
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