The last account listed on the post-closing trial balance for a corporation is the Capital account Withdrawals

Fantastic news! We've Found the answer you've been seeking!

Question:

The last account listed on the post-closing trial balance for a corporation is the

Capital account
Withdrawals account
Retained Earnings account
Common Stock account

Related Book For answer-question

Financial Reporting and Analysis

ISBN: 978-1259722653

7th edition

Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer

See More Books

Posted Date: Jan 30, 2023 12:10 AM

See More Questions

The following is the pre closing trial balance for Allen University as of June 30, 2017. Additional information related to net assets and the statement of cash flows is also provided. Additional...
The pre-closing, year-end trial balance for a capital projects fund of the city of Clark as of December 31, 2019, follows: Required 1. Prepare closing entries as of December 31, 2019, assuming that...
need the debit balance amount on the post closing trial balance below Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Land Furniture Accumulated Depreciation-Furniture...
Determine whether or not it is possible to cold work brass so as to give a minimum Brinell hardness of 120 and at the same time have a ductility of at least 20%EL. Justify your decision.
Felipe Company purchases a patent for $120,000 on January 2, 2014. Its estimated useful life is 8 years. (a) Prepare the journal entry to record amortization expense for the first year. (b) Show how...
Is the center of mass of the dumbbell in FIGURE Q12.1 at point a, b, or c? Explain. a b FIGURE Q12.1
The following data were collected on specific gravity and spectrophotometer analysis for 26 mixtures of NG (nitroglycerine), TA (triacetin), and 2 NDPA (2-nitrodiphenylamine). There is a need to...
In a recent year, Coach, Inc, a designer and marketer of handbags and other accessories, issued 12,100 shares of its $0.01 par value stock for $344,000 (these numbers are rounded). These additional...
When an object is dropped, the distance it falls in t seconds, assuming that air resistance is negligible, is given by s(t) = 4.905t where s(t) is in meters (m). If a stone is dropped from a cliff,...
ATV Co. began operations on March 1 and uses a perpetual inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. Legend No Purchases or Sales Purchases...
How the field of positive psychology is different from the field of clinical psychology? Compare and explain at least 3 differences in detail. A. Positive psychology is more on treatment while...
Spring Fording Corp. (SFC) has 1,700,000 shares outstanding. Its most recent reported earnings were $8,500,000. SFC is considering issuing an additional 800,000 shares. The proceeds of the issue will...
Mann's budget for the upcoming year revealed the following figures: Sales revenue $ 850,000 Contribution margin 505,000 Income 55,000 If the company's break-even sales total $759,000, What would be...
1. What are contingent liabilities in accounting, and how are they recorded? 2. How do contingent liabilities differ from actual liabilities? 3. What are some examples of contingent liabilities that...
Green LTD has a Note Receivable of $5,000. The note will be collected in installments. $1,000 is due one years and the remainder is due after a year. What is the classification of the note on the...
Discuss the two concept Marginal Costing and Absorption costing. Please be detail and also provide examples.
(a) Illustrate the following name reactions giving a chemical equation in each case : (i) Clemmensen reaction (ii) Cannizzaros reaction (b) Describe how the following conversions can be brought about...
Information graphics, also called infographics, are wildly popular, especially in online environments. Why do you think infographics continue to receive so much attention? How could infographics be...
Frate Company was formed on January 1, 2017. The following information is available from Frate's inventory records for Product Ply: A physical inventory on December 31, 2017, shows 1,600 units on...
At January 1, 2017, Milo Co.'s projected benefit obligation is $300,000, and the fair value of its pension plan assets is $340,000. The average remaining service period of Milo's employees is 10...
Online Auction Company (OAC) provides a platform for its users to buy and sell goods. Sellers post goods for sale and other users bid on them. They high bidder wins the auction and purchases the...
A concave mirror of focal length forms an image of the moon. Where is the image located? A. At the mirror's surface B. Almost exactly a distance behind the mirror C. Almost exactly a distance in...
During a solar eclipse, the sun-a small but extended source-casts a shadow of the moon on the earth. Explain why the moon's shadow has a dark center surrounded by a region of increasing brightness.
A concave mirror brings the sun's rays to a focus at a distance of $30 \mathrm{~cm}$ from the mirror. If the mirror were submerged in a swimming pool, would the sun's rays be focused nearer to,...

The last account listed on the post-closing trial balance for a corporation is the Capital account Withdrawals

Question:

Expert Answer:

The detailed answer for the above question is provided below Correct answer C Retained E... View the full answer

Financial Reporting and Analysis

Students also viewed these accounting questions