Question

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

1) Yes
2) No

Answer 1

Only permanent accounts are included on a post-closing trial balance.

Step-by-step explanation:

On a post-closing trial balance, only permanent accounts are included. Permanent accounts are those that carry over from one accounting period to another, and they include assets, liabilities, and owner's equity. Temporary accounts, such as revenue and expense accounts, are closed at the end of each accounting period and their balances are transferred to the owner's equity account.

So, for each account listed, if it is a permanent account, it would be included on a post-closing trial balance and indicated with 'Yes'. If it is a temporary account, it would not be included and indicated with 'No'.