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Published byAugust Edwards Modified over 9 years ago
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Accounting Review
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Are the following accounts permanent or temporary? Directions: Insert a slide after each of the slides containing account names. On that slide type “permanent” or “temporary” as it pertains to the account listed on the slide before it. The first one is done for you.
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Accounts Payable
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Permanent
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John Jones, Capital
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Sales
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Accounts Receivable
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Income Summary
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Prepaid Insurance
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Purchases
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Cash
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Advertising Expense
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John Jones, Drawing
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What is the normal balance of the following accounts? Directions: Insert a slide after each of the slides containing account names. On that slide type “debit” or “credit” as it pertains to the account listed on the slide before it. The first one is done for you.
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Cash
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Debit
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Sales
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Supplies
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Accounts Payable
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Merchandise Inventory
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Sales Tax Payable
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Capital
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Advertising Expense
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Sales Tax Payable
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Purchases
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Drawing
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Purchases Returns and Allowances
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What is the classification of the following accounts? Directions: Insert a slide after each of the slides containing account names. On that slide type “asset, liability, owner’s equity, revenue, cost of merchandise sold, or expense” as it pertains to the account listed on the slide before it. The first one is done for you.
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Supplies
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Asset
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Sales Tax Payable
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Accounts Receivable
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Cash
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Purchases
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Income Summary
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Federal Income Tax Payable
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Miscellaneous Expense
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Prepaid Insurance
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Merchandise Inventory
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Sales
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Purchases Returns and Allowances
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