BE 168
Identify which of the following are temporary accounts of San Juan Company.
(1)Retained Earnings
(2)Dividends
(3)Equipment
(4)Accumulated Depreciation
(5)Depreciation Expense
BE 169
Identify which of the following accounts would have balances on a post-closing trial balance.
(1)Service Revenue
(2)Income Summary
(3)Notes Payable
(4)Interest Expense
(5)Cash
BE 170
At Westglow Company, the following errors were discovered after the transactions had been journalized and posted. Prepare the necessary correcting entry for each of the following.
a........................................................A collection on account of $500 was debited to Cash $500 and credited to Service Revenue $500.
b........................................................The purchase of supplies on account for $1,250 was recorded as a debit to Supplies for $1,550 and a credit to Accounts Payable for $1,550.
BE 171
At Outersanctum Company, the following errors were discovered after the transactions had been journalized and posted. Prepare the necessary correcting entry for each of the following.
a........................................................A payment of $5,000 for salaries was recorded as a debit to Supplies Expense and a credit to Cash.
b........................................................A purchase of supplies on account for $1,000 was recorded as a debit to Equipment and a credit to Accounts Payable.