BUSINESS HIGH SCHOOL-ACCOUNTING I

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Recording Adjusting and Closing Entries for a Service Business
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Presentation transcript:

BUSINESS HIGH SCHOOL-ACCOUNTING I Temporary Capital Accounts Types of Capital Accounts Permanent Capital Accounts How Revenue, Expenses, and Withdrawals Affect Owner’s Equity Chapter 5 The Rules of Debit and Credit Revenue Accounts Applying the Rules of Debit and Credit to Temporary Accounts Expense Accounts Withdrawals Account Equality of Debits and Credits Trial Balance Content Vocabulary: Permanent Accounts Revenue Recognition Temporary Accounts Accounting I Essential Learning Expectations-Chapter 5: Temporary Accounts start each new accounting period with zero balances. Permanent Accounts are continuous from one accounting period to the next. A Trial Balance tests the equality of debits and credits.