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Q4TI_2

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Horngren'S Financial And Managerial Accounting
Found in: Page 201

Short Answer

For each account listed, identify whether the account would appear on the post-closing trial balance. Indicate either yes or no.

17. Service Revenue

No

See the step by step solution

Step by Step Solution

Step-by-Step-SolutionStep 1: Explanation on Post Closing Trial Balance

Post closing trial balance is prepared after recording the closing entries. It only reports the permanent account of the business.

Step 2: Explanation on Service Revenue

Service revenue indicates the income generated by providing the services to the customers. It is temporary account, which is closed by recording closing entry, hence not reported in closing trial balance.

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