If anyone could help it would be appreciated. I am not sure if my answers are correct?
2. Understanding the closing process. Examine the following list of accounts:
|
Note Payable |
Accumulated Depreciation: Building |
|
Alex Kenzy, Drawing |
Accounts Payable |
|
Product Revenue |
Cash |
|
Accounts Receivable |
Supplies Expense |
|
Utility Expense |
Which of the preceding accounts
a. appear on a post-closing trial balance? Note Payable-Accumulated Depreciation: Building- Accounts Receivable-Accounts Payable-Cash
b. are commonly known as temporary, or nominal, accounts? Alex Kenzy, Drawing-Product Revenue-Utility Expense-Supplies Expense
c. generate a debit to Income Summary in the closing process? Supplies Expense-Utility Expense
d. are closed to the capital account in the closing process? Alex Kenzy, Drawing
