ernestinebell9245 ernestinebell9245
  • 02-10-2017
  • Business
contestada

What is the first account that should be listed in the post-closing trial balance?
a. owner, capital
b. cash
c. fees earned
d. net income?

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Erudite1
Erudite1 Erudite1
  • 12-10-2017
The correct option is B.
The post closing trial balance is the trial balance that shows the balances after the closing entries have been completed and it serves as the starting trial balance for the next financial year. The components of posting trial balance are usually arranged in the order of their liquidity and because of this the cash account always comes first.
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