Identify Which of the Following Accounts Would Have Balances in a Post-Closing

question 77

Short Answer

Identify which of the following accounts would have balances in a post-closing trial balance.
(1) Service Revenue
(2) Income Summary
(3) Notes Payable
(4) Interest Expense
(5) Cash

---

Definitions:

Y-Intercept

The point where a line crosses the Y-axis of a graph, indicating the value of the response variable when all predictor variables are zero.

Linear Regression Model

A statistical technique that establishes the link between a dependent variable and one or more independent variables by applying a linear equation to the data collected.

True Regression Line

In linear regression, the line that best describes the relationship between the independent and dependent variables across the entire population.

Slope

In the context of a regression line, the slope represents the rate at which the dependent variable changes with respect to the independent variable, indicating the strength and direction of the linear relationship.