Accounting – 1/12/18
I. Bellwork Q&A
- What account classifications (2) are closed to Income Summary?
- What accounts (2) are closed to the Capital account?
- What are the 3 classifications of accounts listed on the post-closing trial balance?
II. Objectives
- Review and apply terminology and concepts related to closing entries and the post-closing trial balance as presented in the text
- Prepare closing entries and the post closing trial balance
III. Test on Tuesday
- Know order of Journalizing Closing Entries
- Know what goes on the Post Closing Trial Balance
IV. Classwork on Aplia:
A. Page 232 8M- Mastery Problem
- journalize & post closing entries
- prepare a post closing trial balance
B. Chapter 8 Review
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