Which of the following accounts showing a balance on the post-closing trial balance indicate an error?...
Which of the following accounts showing a balance on the post-closing trial balance indicate an error?
A. Accumulated Depreciation-office equipment
B. Depreciation Expense- office Equipment
C. retained earnings
D. salaries payable
E. office equipment
Homework Answers
All temporary accounts of revenues and expenses are closed. Thus, revenues and expenses account balances do not appear in the post closing trial balance. Thus, depreciation expense - office equipment would not appear in the post closing trial balance.
Correct option is B.
All other remaining accounts would appear in post closing trial balance.
Post closing trial balance contains assets, liabilities and stockholders balances.
Kindly comment if you need further assistance. Thanks‼!
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I obtained my retained earnings by closing out service
revenue & expenses to my income summary and then closing out
income summary and dividends to retained earnings.
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