Final answer:
The account not included in the post-closing trial balance is Dividends, as it is a temporary account closed to Retained Earnings at the end of the accounting period. Permanent accounts such as Land, Notes Payable, and Retained Earnings are included in the post-closing trial balance.
Step-by-step explanation:
The account that is not included in the post-closing trial balance is Dividends. This is because the post-closing trial balance only includes permanent or real accounts that carry their balances into the next accounting period. Specifically, the post-closing trial balance will show asset accounts like Land, liability accounts such as Notes Payable, and equity accounts like Retained Earnings. The account for Dividends, however, is a temporary account that is closed to Retained Earnings at the end of the accounting period.
At the end of an accounting cycle, all income statement accounts including revenue, expenses, and also the Dividends account are transferred to the Retained Earnings account to reflect the changes in earned capital after considering the business operations of that period. As such, these accounts do not appear in the post-closing trial balance as they've been zeroed out. The main purpose of the post-closing trial balance is to ensure that all temporary accounts have been properly closed and that the general ledger is in balance for the start of the new accounting period. This is a crucial step in the accounting cycle for maintaining accurate financial records.