After the closing entries are posted, the balance of the owner's capital account agrees with the amount of own

Question

After the closing entries are posted, the balance of the owner's capital account agrees with the amount of owner's equity shown on the balance sheet for the period

true are false

Answer 1

I think the answer is true. Please note I forgot where my accounting book was a decade ago and don't work in accounting.

Law & Ethics is not the best category for Accounting questions.

Answer 2

true