Identifying Permanent Accounts Which of the following accounts will usually appear in the post-closing trial balance? a. Accounts Receivable b. Cash c. Depreciation Expense d. Fees Earned e. Doug Woods, Capital f. Doug Woods, Drawing g. Equipment h. Land i. Salaries Payable j. Unearned Rent k. Wages Expense
Homework Answers
Only permanent accounts i.e assets, liabilities and owner's capital and drawings, appear in the post closing trial balance.
Temporary accounts i.e. expenses and revenues do not appear in the post closing trial balance.
| a | Accounts receivable | Appears in post closing trial balance |
| b | Cash | Appears in post closing trial balance |
| c | Depreciation expense | Does not appear in post closing trial balance |
| d | Fee earned | Does not appear in post closing trial balance |
| e | Doug woods, capital | Appears in post closing trial balance |
| f | Doug woods, drawings | Appears in post closing trial balance |
| g | Equipment | Appears in post closing trial balance |
| h | Land | Appears in post closing trial balance |
| i | Salaries payable | Appears in post closing trial balance |
| j | Unearned rent | Appears in post closing trial balance |
| k | Wages expense | Does not appear in post closing trial balance |
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Identifying Permanent Accounts Which of the following accounts will usually appear in the post-closing trial balance?
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