OS 4-5 Explaining temporary and permanent accounts Choose from the following list of terms/phrases to best complete the statements below. ..Temporary b Permanent c. One or more d. One e Zero balances f. Income Summary accounts generally consist of all balance sheet accounts, and these accounts are not closed. 2. Permanent accounts report on activities related to future accounting periods, and they carry their ending balances into the next period. 3. Temporary accounts accumulate data related to _accounting period. accounts include all income statement accounts, the withdrawals account, and the Income Summary account. QS 4-6 Prepare closing entries from the ledger The ledger of Mai Company includes the following accounts with normal balances: D. Mai, Capital $9,000; D. Mai, Withdrawals $800; Services Revenue $13,000; Wages Expense 58,400; and Rent Expense S1,600. Prepare the necessary closing entries from the available information at December 31. QS 4-7 Identify post-closing accounts Identify which of the following accounts would be included in a post-closing trial balance. a) Accounts Receivable b) Salaries Expense c) Goodwill d) Land c) Income Tax Expense Salaries Payable