The post closing trial balance contains which of the following accounts?

Question

Quizplus · Accepted Answer

The post closing trial balance only includes accounts that are not closed out at the end of the accounting period. Accumulated Depreciation is a contra-asset account that represents the total accumulated depreciation of an asset over its useful life, and it is not closed out at the end of the period. Depreciation Expense is a temporary account that is closed out to Accumulated Depreciation at the end of the period, so it would not appear on the post closing trial balance. Service Revenue is a revenue account that is closed out to Retained Earnings at the end of the period, so it would not appear on the post closing trial balance. Dividends is a contra-equity account that represents the distribution of earnings to shareholders, and it is closed out to Retained Earnings at the end of the period, so it would not appear on the post closing trial balance.

The Post Closing Trial Balance Contains Which of the Following