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. Which of the following are all temporary accounts?. liabilities, revenues, and expenses a. b. revenues, expenses, and withdrawals c. revenues, expenses, and capital d. assets, revenues, and withdrawals

. Which of the following are all temporary accounts?. liabilities, revenues, and expenses a. b. revenues, expenses, and withdrawals c. revenues, expenses, and capital d. assets, revenues, and withdrawals

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I CHAPTER 7 | WORKSHEET AND FINANCIAL STATEMENTS . Which of the following are all temporary accounts? liabilities, revenues, and expenses a. b. revenues, expenses, and withdrawals c. revenues, expenses, and capital d. assets, revenues, and withdrawals 10. The income summary account is closed to the: a. cash account b. withdrawals account C. service revenue account d. capital account 11. The balance in the capital account after all closing entries have been posted is: a. equal to net income or loss for the period b. the same as the balance of the account on the worksheet c. always more than the balance of the account on the worksheet d. the balance that will appear on the balance sheet 12. The accounts which appear on a post-closing trial balance are: a. assets, liabilities, withdrawals, and revenues b. revenues, expenses, and capital C. assets, liabilities, and expenses d. assets, liabilities, and capital 13. Revenues, expenses, and withdrawals would not appear on a(n): a. post-closing trial balance b. adjusted trial balance c. unadjusted trial balance d. worksheet 14. Which of the following accounts are closed to the owner's capital account? a, revenues and expenses b. the owner's withdrawals account and expenses C. income summary and the owner's withdrawals account d. revenues, expenses, and the owner's withdrawals account
Transcribed Image Text:I CHAPTER 7 | WORKSHEET AND FINANCIAL STATEMENTS . Which of the following are all temporary accounts? liabilities, revenues, and expenses a. b. revenues, expenses, and withdrawals c. revenues, expenses, and capital d. assets, revenues, and withdrawals 10. The income summary account is closed to the: a. cash account b. withdrawals account C. service revenue account d. capital account 11. The balance in the capital account after all closing entries have been posted is: a. equal to net income or loss for the period b. the same as the balance of the account on the worksheet c. always more than the balance of the account on the worksheet d. the balance that will appear on the balance sheet 12. The accounts which appear on a post-closing trial balance are: a. assets, liabilities, withdrawals, and revenues b. revenues, expenses, and capital C. assets, liabilities, and expenses d. assets, liabilities, and capital 13. Revenues, expenses, and withdrawals would not appear on a(n): a. post-closing trial balance b. adjusted trial balance c. unadjusted trial balance d. worksheet 14. Which of the following accounts are closed to the owner's capital account? a, revenues and expenses b. the owner's withdrawals account and expenses C. income summary and the owner's withdrawals account d. revenues, expenses, and the owner's withdrawals account
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