6) Asset and liability accounts are closed to the Income summary account.
7) Beginning balance in Retained earnings is $10,000. Revenues are $200,000. Expenses are $120,000. Dividends are $4,000. The ending balance in Retained earnings is $86,000.
8) Beginning balance in Retained earnings is $10,000. Revenues are $200,000. Expenses are $120,000. Dividends are $4,000. The ending balance in Retained earnings is $90,000.
9) Beginning balance in Retained earnings is $80,000. Revenues are $60,000. Expenses are $75,000. No dividends were paid. The ending balance in Retained earnings is $65,000.
10) Beginning balance in Retained earnings is $80,000. Revenues are $60,000. Expenses are $75,000. No dividends were paid. The ending balance in Retained earnings is $95,000.
11) Cash is a temporary account.
12) Accounts receivable is a permanent account.
13) Supplies is a temporary account.
14) Supplies expense is a temporary account.
15) Accounts payable is a temporary account.