Problemas
Which of the following accounts showing a balance on the post-closing trial balance indicate an error? Multiple Choice Accounts Payable. Wages expense. Land. Prepaid Insurance. Unearned Revenue.
Roztwór
Jorge
élite · Tutor durante 8 años
4.3
(151 Votos)
Respuesta
In a post-closing trial balance, only permanent accounts (also known as real accounts) should have balances. These include asset, liability, and equity accounts. Temporary accounts, such as revenues, expenses, and dividends, should have been closed to retained earnings and should not appear on the post-closing trial balance.Let's analyze each account:1. **Accounts Payable**: This is a liability account and should have a balance on the post-closing trial balance. No error here.2. **Wages Expense**: This is an expense account, which is a temporary account. It should be closed at the end of the accounting period and should not appear on the post-closing trial balance. If it does, this indicates an error.3. **Land**: This is an asset account and should have a balance on the post-closing trial balance. No error here.4. **Prepaid Insurance**: This is an asset account and should have a balance on the post-closing trial balance. No error here.5. **Unearned Revenue**: This is a liability account and should have a balance on the post-closing trial balance. No error here.Therefore, the account that indicates an error if it shows a balance on the post-closing trial balance is **Wages Expense**.