Final answer:
The December 31, 2024, post-closing trial balance for Culver City Lighting, Inc. would include all permanent accounts with their balances after closing entries. It ensures the ledger is balanced before the new fiscal period begins and includes assets, liabilities, and shareholder equity accounts but not revenues, expenses, or withdrawals.
Step-by-step explanation:
The content of the December 31, 2024, post-closing trial balance for Culver City Lighting, Inc. would list all the permanent or real accounts that have a balance after the closing entries have been made. This includes assets, liabilities, and equity accounts but would exclude all revenue, expense, and withdrawal accounts, as they have been closed to the owner's capital account.
The post-closing trial balance is prepared to ensure that the ledger is balanced and ready for the new accounting period after closing entries are made. These entries transfer the balances of temporary accounts (like revenues, expenses, and withdrawals/dividends) to permanent accounts (like retained earnings or owner's capital).
A typical post-closing trial balance will list the account names in the ledger with their respective balances in either the debit or credit column, ensuring that total debits equal total credits. This trial balance is the last step in the accounting cycle for a given fiscal period.