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:
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
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