Question Title

* 1. Which of the following accounts would not be involved in closing entries?

Question Title

* 2. Which of the following are all temporary accounts?

Question Title

* 3. 4. In preparing the first two closing entries, to which of the following columns of the work sheet does one refer?

Question Title

* 4. The owner's Drawing account for the current period is closed to the

Question Title

* 5. If L. Green's total revenue for the year was $38,000 and total expenses were $30,000, the third closing entry would be

Question Title

* 6. The Income Summary account has an $8,000 credit balance prior to being closed to the owner's Capital account. The owner's Capital account had a $32,000 beginning balance and a $36,500 ending balance. Determine the amount of the owner's drawing during the current period.

Question Title

* 7. Which of the following accounts should be closed to J. Bean, Capital, in the fourth closing entry?

Question Title

* 8. Which of the following accounts should be closed to Income Summary at the end of the fiscal year?

Question Title

* 9. Closing entries are prepared to close the

Question Title

* 10. The last step in the closing procedure closes

T