Problem 2 Complete the chart. Two rows have been completed for you as examples Tip: Some of these accounts are discussed in Chapters 7 & 8, and you can find them on the Sample General Ledger Accounts table at the back of your book (also available in the e-text). Accounting Equation Normal Financial Financial Statement Temporary Closed /Not Account Title Classification Balance Statement Classification /Permanent Closed Merchandise Inventory Asset Debit Balance Sheet Current Asset Permanent Not Closed Sales Discounts Contra-revenue Debit Income Statement Revenue Temporary Closed Sales Returns & Allowances Petty Cash Fund Allowance for Doubtful Accounts
Problem 2 Complete the chart. Two rows have been completed for you as examples Tip: Some of these accounts are discussed in Chapters 7 & 8, and you can find them on the Sample General Ledger Accounts table at the back of your book (also available in the e-text). Accounting Equation Normal Financial Financial Statement Temporary Closed /Not Account Title Classification Balance Statement Classification /Permanent Closed Merchandise Inventory Asset Debit Balance Sheet Current Asset Permanent Not Closed Sales Discounts Contra-revenue Debit Income Statement Revenue Temporary Closed Sales Returns & Allowances Petty Cash Fund Allowance for Doubtful Accounts
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter22: Master Budget (master)
Section: Chapter Questions
Problem 2R: Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas...
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![Problem 2
Complete the chart. Two rows have been completed for you as examples
Tip: Some of these accounts are discussed in Chapters 7 & 8, and you can find them on the Sample General Ledger Accounts table at the back of
your book (also available in the e-text).
Accounting
Equation
Normal
Financial
Financial Statement
Temporary
Closed /Not
Account Title
Classification
Balance
Statement
Classification
/Permanent
Closed
Merchandise Inventory
Asset
Debit
Balance Sheet
Current Asset
Permanent
Not Closed
Sales Discounts
Contra-revenue
Debit
Income Statement
Revenue
Temporary
Closed
Sales Returns & Allowances
Petty Cash Fund
Allowance for Doubtful Accounts
Accumulated Depreciation
Purchases
Purchase Returns & Allowances
Depreciation Expense
Sales Tax Payable
Sales
Freight-In
Uncollectable Accounts Expense
Interest Income
Notes Payable](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0b541fe2-a1e2-4268-81f6-a25c7d8d730c%2F1c8f1417-b1d2-4a30-8475-8c6502bff9a7%2Fdrby6td_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 2
Complete the chart. Two rows have been completed for you as examples
Tip: Some of these accounts are discussed in Chapters 7 & 8, and you can find them on the Sample General Ledger Accounts table at the back of
your book (also available in the e-text).
Accounting
Equation
Normal
Financial
Financial Statement
Temporary
Closed /Not
Account Title
Classification
Balance
Statement
Classification
/Permanent
Closed
Merchandise Inventory
Asset
Debit
Balance Sheet
Current Asset
Permanent
Not Closed
Sales Discounts
Contra-revenue
Debit
Income Statement
Revenue
Temporary
Closed
Sales Returns & Allowances
Petty Cash Fund
Allowance for Doubtful Accounts
Accumulated Depreciation
Purchases
Purchase Returns & Allowances
Depreciation Expense
Sales Tax Payable
Sales
Freight-In
Uncollectable Accounts Expense
Interest Income
Notes Payable
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