Question
Which of the following accounts is included in the postclosing trial balance?
Dividends
Salaries expense
Retained earnings
Sales revenue
Dividends
Salaries expense
Retained earnings
Sales revenue
Answers
GPT-4o mini
The account included in the post-closing trial balance is **Retained earnings**.
In the post-closing trial balance, only the permanent accounts (balance sheet accounts) are included, and these accounts carry over to the next accounting period. Retained earnings is a balance sheet account that reflects the cumulative profits retained in the company.
Dividends and expenses (such as Salaries expense) are temporary accounts that are closed at the end of the period, and sales revenue is also a temporary account that is closed to retained earnings at the end of the accounting period.
In the post-closing trial balance, only the permanent accounts (balance sheet accounts) are included, and these accounts carry over to the next accounting period. Retained earnings is a balance sheet account that reflects the cumulative profits retained in the company.
Dividends and expenses (such as Salaries expense) are temporary accounts that are closed at the end of the period, and sales revenue is also a temporary account that is closed to retained earnings at the end of the accounting period.