Q4TI_3
Question
For each account listed, identify whether the account would appear on the post-closing trial balance. Indicate either yes or no.
18. Cash
Step-by-Step Solution
Verified Answer
Yes
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 Cash
Cash is the part of the resources of the business, hence it is reported in closing trial balance, and finally reported in the balance sheet under asset section.
Other exercises in this chapter
Q4TI_1
For each account listed, identify whether the account would appear on the post-closing trial balance. Indicate either yes or no.16. Dividends
View solution Q4TI_2
For each account listed, identify whether the account would appear on the post-closing trial balance. Indicate either yes or no.17. Service Revenue
View solution Q4TI_4
For each account listed, identify whether the account would appear on the post-closing trial balance. Indicate either yes or no.19. Advertising Expense
View solution Q4TI_5
For each account listed, identify whether the account would appear on the post-closing trial balance. Indicate either yes or no.20. Retained Earnings
View solution