Accounting 1- 5/29/08
Objectives:
- Post closing entries to a general ledger for a service business organized as a proprietorship.
I. Bellwork
A. Identifiy each as a permanent or temporary account:
- Cash
- Income Summary
- Supplies
- Sales
- Capital
- Drawing
- Accounts Receivable
- Advertising Expense
- Accounts Payable
- Supplies Expense
II. Classwork
A. Posting Adjusting Entries
1. Working Together – Wb pgs 171, 173-175
2. On Your Own – WB pgs 172, 176-178
3. Application Problem WB 181-184