Q4TI_1
Question
For each account listed, identify whether the account would appear on the post-closing trial balance. Indicate either yes or no.
16. Dividends
Step-by-Step Solution
Verified Answer
No
1Step-by-Step-Solution Step 1: Explanation on Post Closing Trial Balance
Post closing trial balance is prepared after recording the closing entries. It only reports the permanent account of the business.
2Step 2: Explanation on Dividends
Dividends are the part of the profit allocated to the shareholders. It is temporary account, hence it is closed by recording closing entry, and not reported in post closing trial balance.
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