Identify whether the following accounts would be included on a post-closing trialbalance. Post-Closing Trial Balance Account Title
Question:
Transcribed Image Text:
Post-Closing Trial Balance Account Title Yes No 0. Example: Cash a Income from Services b. Prepaid Insurance c. Supplies Expense d. Accounts Payable e. E Oz, Drawing f. Depreciation Expense, Equipment g. Wages Payable h. Accounts Receivable i. Wages Expense . Accumulated Depreciation, Equipment k F Oz, Capital
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
POSTCLOSING TRIAL BALANCE ACCOUNT TITLE YES NO 0 Example Cash X ...View the full answer
Answered By
Allan Simiyu
I am an adroit Writer. I am a dedicated writer having worked as a writer for 3 years now. With this, I am sure to ace in the field by helping students break down abstract concepts into simpler ideas.
5.00+
8+ Reviews
54+ Question Solved
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Question Posted:
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
Students also viewed these Accounting questions
-
Identify whether the following accounts would be included on a postclosing trial balance. Post-Closing Trial Balance Account Title Yes No 0. Example: Cash a Service Revenue b. Prepaid Insurance c....
-
Identify which of the following accounts would be included in a post-closing trial balance. _________ a. Accounts Receivable _________ b. Salaries Expense _________ c. Goodwill _________ d. Land...
-
Indicate which of the following accounts would be included in the chart of accounts of a merchandising company using either the (a) Periodic inventory system or (b) Perpetual inventory system. If the...
-
Cliff Arthur has equally attractive job offers in Miami and Los Angeles. The rent ratios in the cities are 8 and 20, respectively. Cliff would really like to buy rather than rent a home after he...
-
What is the difference between an implicit and an explicit tax? In what way do before-tax required returns react to changes in explicit taxes?
-
Prove the following identities. Assume that is a differentiable scalar-valued function and F and G are differentiable vector fields, all defined on a region of R 3 . V(F G) (GV)F+ (FV)G + GX (VX F)...
-
The professor swims. Professor Moore swims 2000 yards regularly in a vain attempt to undo middle age. Here are his times (in minutes) and his pulse rate (in beats per minute) after swimming for 23...
-
True, False, or Uncertain: The levered beta for a company is always greater than or equal to the unlevered beta for the same company.
-
Using the following unit data for a company that produces Product A and B , what is the breakeven point (round to nearest unit) when fixed costs total $152256?\ \\\\table[[,Product A,Product...
-
Kramer Corporation enters a contract to sell 100 custom-made iron pipes to a customer for $300,000 on December 31, 2016, and the customer pays the full amount on that date. The sales contract...
-
After all revenue and expenses have been closed at the end of the fiscal period ended December 31, Income Summary has a debit of $ 45,550 and a credit of $ 36,520. On the same date, D. Mau, Drawing...
-
Indicate with an X whether each of the following would appear on the income statement, statement of owners equity, or balance sheet. An item may appear on more than one statement. The first item is...
-
Why is the reputation of the school system in the area of the home you are buying important?
-
1. Why do companies that choose to open subsidiaries in other countries have different HR responsibilities? 2. How has globalization allowed companies to become "global companies" more easily? 3....
-
Is Kroger's innovation Product-related or process-related? Do the innovations tend to be incremental or radical? https://www.thekrogerco.com/about-kroger/our-business/ Kroger Co. opens new spoke in...
-
Define what is Process Mapping/Value Stream Mapping How do you apply process mapping methodology? What are the advantages of leaders using process mapping Identify a real world business...
-
What role do formalized processes and protocols play in highly structured organizations, and how can organizations balance the need for structure with the imperative for flexibility and innovation ?
-
In what ways do decision-makers balance quantitative data with qualitative insights to optimize complex strategic choices, especially in high-stakes business environments where traditional metrics...
-
Portland Equipment Company wants to develop a new log-splitting machine for rural homeowners. Market research has determined that the company could sell 6,000 log-splitting machines per year at a...
-
Heineken N.V., a global brewer based in the Netherlands, reports the following balance sheet accounts for the year ended December 31, 2016 (euros in millions). Prepare the balance sheet for this...
-
During October 2019, Cleo organised a new business, Cleos Cafe. After each October transaction, Cleo prepared a balance sheet, as shown below. Required (a) Describe the nature of each of the four...
-
Selected information from the payroll register of Wray's Drug Store for the week ended July 14, 20--, is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.8%, both on the first...
-
Oxford Company has five employees. All are paid on a monthly basis. The fiscal year of the business is June 1 to May 31. The accounts kept by Oxford Company include the following: The following...
-
Multnomah Manufacturing estimated that its total payroll for the coming year would be $540,000. The workers compensation insurance premium rate is 0.2%. REQUIRED 1. Calculate the estimated workers...
-
Required information [The following information applies to the questions displayed below.] Dain's Diamond Bit Drilling purchased the following assets this year. Asset Drill bits (5-year) Drill bits...
-
Which of the following partnership items are not included in the self-employment income calculation? Ordinary income. Section 179 expense. Guaranteed payments. Gain on the sale of partnership...
-
Phantom Consulting Inc. is a small computer consulting business. The company is organized as a corporation and provides consulting services, computer system installations, and custom program...
Study smarter with the SolutionInn App