Q4TI_4
Question
For each account listed, identify whether the account would appear on the post-closing trial balance. Indicate either yes or no.
19. Advertising Expense
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 Advertising Expense
Advertising expense is a part of expense which are incurred on promotion of products in market. It is a temporary account hence it is closed by recording closing entry, thus not reported in post closing trial balance.
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