Question

For each account listed, identify whether the account would be included on a post-closing trial balance. Signify either yes or no.

1) Yes
2) No

Answer 1

Accounts that are included on the post-closing trial balance are typically permanent accounts such as assets, liabilities, and equity accounts.

Step-by-step explanation:

Based on the given information, the accounts listed on the post-closing trial balance would depend on the specific accounts provided. However, in general, accounts that are included on the post-closing trial balance are typically permanent accounts such as assets, liabilities, and equity accounts. These accounts represent the ending balances after the closing entries have been made. Examples of accounts that would typically be included on a post-closing trial balance are:

• Cash - represents the amount of money on hand or in the bank
• Accounts Payable - represents the amount owed to creditors
• Owner's Equity - represents the owner's investment in the business

On the other hand, temporary accounts such as revenue and expense accounts are usually closed at the end of the accounting period and would not appear on the post-closing trial balance.