Accounting 1/15/08

Objectives:

  • Record adjusting entries for a service business organized as a proprietorship.
  • Record closing entries for a service business organized as a proprietorship.
  • Prepare a post-closing trial balance

I.  Bellwork

A.  Identifiy each as a permanent or temporary account:

  1. Cash
  2. Income Summary
  3. Supplies
  4. Sales
  5. Capital
  6. Drawing
  7. Accounts Receivable
  8. Advertising Expense
  9. Accounts Payable
  10. Supplies Expense

II.  Classwork

A.  Pages 211 Application Problem 9-1 & 9-2 WB pgs 181-184

B.  Pg 212 Application Problem 9-3 WB pg 185

III.  Homework

A.  Page 209 Wb pgs 179-180


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