What is the last account that should be listed in the Post Closing Trial Balance? a. Income Summary b. Capital account c. Cash d. Fees Earned

Q: Prepare an income statement, statement of changes in equity and classified balance sheet. Journalize…

A: The financial statements of the business include income Statement and balance sheet.

Q: Transportation Out in the post closing trial balance is

A: In the Post closing Trial Balance only Permanent Accounts Balance will be Posted which is Generally…

Q: A. Analyze business transactions. B. Journalize the transactions. C. Post to ledger accounts. D.…

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: The temporary account used only in the closing process to hold the amounts of revenues and expenses…

A: Temporary accounts are the accounts that are shut toward the finish of each accounting year.…

Q: Construct the Report Form and Account Form of the Statement of Financial Position using the Post-…

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Q: Identifying Permanent Accounts Which of the following accounts will usually appear in the…

A: The permanent accounts will usually appear in the post-closing trial balance. The temporary account…

Q: Prepare a a. Statement of Comprehensive Income b. Statement of Financial Position c. Closing Entries

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: Select the best answer for the question. 4. Which one of the following accounts is both opened and…

A: In accounting, accounts are mainly classified as: Assets accounts Liabilities accounts Capital…

Q: Prepare following: a.Prepare journal entry, Post to Ledger(T account) and prepare Unadjusted Trial…

A: Financial statements are prepared to analyze the financial position of a company.

Q: USE THE NUMBERS 1-10 TO PLACE THE FOLLOWING STEPS OF THE ACCOUNTING CYCLE IN THEIR PROPER ORDER, 1…

A: Accounting cycle includes the step by step procedure of recording and finalizing the business…

Q: A. Analyze business transactions. B. Journalize the transactions. C. Post to ledger accounts. D.…

A: SOLUTION ACCOUNTING CYCLE IS A COLLECTIVE PROCESS IDENTIFYING ,ANALYSING AND RECORDING THE…

Q: Which of these account types assets, liabilities, equity, revenue, expense, dividend are debited in…

A: Permanent accounts (Real accounts) These are accounts whose balances at the end of the current…

Q: Identify which of the following accounts would be included in a post-closing trial balance. Accounts…

A: Post-closing trial balance: Post-closing trail balances are showing balance after closing entries…

Q: Which of the following accounts is included in the Post-Closing Trial Balance? O Allowance for Bad…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which is a logical order in the accounting cycle? A. Posting, financial statements and unadjusted…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Required: After the closing process has been completed, answer the following questions: What is the…

A: Closing entries are journal entries passed to close our all temporary accounts. Temporary accounts…

Q: Identifying permanent accounts Which of the following accounts will usually appear in the…

A: Post-closing trial balance only includes the permanent accounts. Temporary accounts are usually…

Q: How is the account Income Summary used during the closing process?

A: Discussion of the how Income Summary account used during the closing process as follows:-…

Q: Of the following steps of the accounting cycle, which step should be completed last? a.Transactions…

A: Steps in the accounting cycle: Accounting cycle is the series of steps of accounting process which…

Q: Identify which of the following accounts would be included in a post-closing trial balance. Salaries…

A: Post-Closing Trial Balance:   After passing all the journal entries and the closing entries of the…

Q: What is the first account that should be listed in the post-closing trial balance? a.Common Stock…

A: Introduction: Trial Balance: All the final balances of ledger balances are posted in trial balance…

Q: Identify which of the following accounts would be included in a post-closing trial balance. Salaries…

A: The post closing trial balance will include all the assets and liabiliites accounts. Becuase all…

Q: Which of the following accounts will usually appear in the post-closing trial balance?

A: Post-Closing Trial Balance:   After passing all the journal entries and the closing entries of the…

Q: The bal . equal to net income or loss for. the period the capital account after all closing entries…

A: Solution: Capital accounts consists of capital introduced by the owner plus net income less any net…

Q: What is the purpose of a post-closing trial balance? Prove that all income statement accounts have…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : The…

Q: Would the following account appear on the Post-Closing Trial Balance? Income from Services

A: Post-closing trial balance: The post-closing trial balance is a summary of all ledger accounts, and…

Q: The temporary account used only in the closing process to hold the amounts of revenues and expenses…

A: Temporary accounts are the accounts that are shut toward the finish of each accounting year.…

Q: (prepare and process Required: After the closing process has been completed, answer the following…

A: Closing entries are those entries which are passed at the end of the period. It will close all…

Q: What types of accounts are listed on the post-closing trial balance?

A: Post-Closing Trial Balance: After passing all the journal entries and the closing entries of the…

Q: Identify which of the following accounts would be included in a post-closing trial balance. Land

A: Post closing trial balance is the summary of ledger accounts balances after all the adjustments. It…

Q: Which of the following accounts will usually appear in the post-closing trial balance?a. Accounts…

A: Permanent Accounts Permanent accounts (real account) are the accounts which occurred during a…

Q: Which of the following accounts may appear on a post-closing trial balance? Cash, Salaries Payable,…

A:

Q: Transactions are first recorded in a O A. ledger O B. journal O C. trial balance O D. chart of…

A: The transaction, which is measurable in monetary terms, is an economic event with a third party…

Q: Which of the following accounts should be shown on the post-closing trial balance? a.All expense…

A: The post-closing trial balance verifies the balances of total debit and total credit to be equal…

Q: Which of the following statements is true of a trial balance? O A. A trial balance is the first step…

A: Trial balance means the statement prepared from ledger account where all debit and credit balance…

Q: 7. Which of the following.statements is correct? The post-closing trial balance contains income and…

A: Solution: Statement a, b and c is incorrect due to following reasons 1. The post closing trial…

Q: A. list all of the steps in the accounting cycle? B.Explain th e steps that must be taken for…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Use the following to describe the order of the steps in the Accounting Cycle.     Prompts Submitted…

A: Answer:-  Accounting cycle meaning:- Accounting cycle is basically a process which is designed to…

Q: A list of accounts and their balances at a given time is called a(n)   Select one: a.  posting.…

A: The trial balance reflects khe ledgers and the balance of the same. The trial Balance at a…

Q: The purpose of the post-closing trial balance is to a. provide the account balances for the…

A: Solution: The purpose of Post closing trial balance is to "ensure that the ledger is in balance for…

Q: Which of these accounts IS included in the post-closing trial balance?

A: Temporary Accounts of revenues and expenses are closed to the Income Summary Account. After closing…

Q: Which of the following accounts ordinarily appears in the post-closing trial balance? Hint:…

A: The financial statement shows the financial data of the company that is used by various financial…

Q: Which of these is the first step in the closing process?(a) Close revenue account(s). (c) Close the…

A: Introduction:- A closing entries are made at the end of the accounting period to transfer of all the…

Q: Current Which type of account is always debited during the closing process? O Revenue. O Dividends.…

A: Which type of account is always debited during the closing process? Answer Option A:Revenue…