t Identifying Permanent Accounts Which of the following accounts will usually appear in the post-closing trial…
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Question “t Identifying Permanent Accounts Which of the following accounts will usually appear in the post-closing trial…”
Answer
The post-closing trial balance only shows permanent accounts, i.e. assets, liabilities, owner’s capital, and drawings.
Temporary accounts (i.e. The post-closing trial balance does not reflect revenues and expenses.
A | Receivables | Appearances in the post-closing trial balance |
b | Cash | Appearances in the post-closing trial balance |
c | Depreciation expense | Post-closing Trial Balance: Does not include this item |
d | Earn a fee | Post-closing Trial Balance: Does not include this item |
e | Doug Woods, capital | Appearances in the post-closing trial balance |
F | Doug Woods, Drawings | Appearances in the post-closing trial balance |
g | Equipment | Appearances in the post-closing trial balance |
h | Land | Appearances in the post-closing trial balance |
i | Salaries payable | Appearances in the post-closing trial balance |
j | Rent that isn’t earned | Appearances in the post-closing trial balance |
K | Wages expense | Post-closing Trial Balance: Does not include this item |
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Conclusion
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