Question

For each account listed, identify whether the account would appear on the post-closing trial balance. Indicate either yes or no. Account Yes/No

a. Dividends
b. Service Revenue
c. Cash
d. Advertising Expense
e. Retained

Answer 1

The post-closing trial balance only includes permanent or real accounts that are not closed at the end of the accounting period.

Step-by-step explanation:

To determine whether an account would appear on the post-closing trial balance, we need to understand the purpose of this trial balance. The post-closing trial balance only includes permanent or real accounts, which are not closed at the end of the accounting period. Temporary or nominal accounts, which are closed at the end of the accounting period, are not included. Based on this, we can determine whether each account listed would appear on the post-closing trial balance:

1. Dividends: No, because it is a temporary account that is closed at the end of the accounting period.
2. Service Revenue: No, because it is a temporary account that is closed at the end of the accounting period.
3. Cash: Yes, because it is a permanent account that carries the balance forward to the next accounting period.
4. Advertising Expense: No, because it is a temporary account that is closed at the end of the accounting period.
5. Retained Earnings: Yes, because it is a permanent account that carries the balance forward to the next accounting period.