In the post-closing trial balance, only the permanent accounts (also known as balance sheet accounts) are listed. These accounts include:
- Assets: Such as cash, accounts receivable, inventory, and property.
- Liabilities: Such as accounts payable, notes payable, and other obligations.
- Equity: Such as common stock, retained earnings, and additional paid-in capital.
Temporary accounts (also known as nominal accounts), such as revenues, expenses, and dividends, are not included in the post-closing trial balance because they have been closed out to the retained earnings account at the end of the accounting period. The purpose of the post-closing trial balance is to ensure that the books are still in balance after the closing entries have been made.