Accounting ReviewAccounting Review
Are the following accounts Are the following accounts permanent or temporary?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.
Accounts PayableAccounts Payable
PermanentPermanent
John Jones, CapitalJohn Jones, Capital
SalesSales
Accounts ReceivableAccounts Receivable
Income SummaryIncome Summary
Prepaid InsurancePrepaid Insurance
PurchasesPurchases
CashCash
Advertising ExpenseAdvertising Expense
John Jones, DrawingJohn Jones, Drawing
What is the normal balance What is the normal balance of the following accounts?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.
CashCash
DebitDebit
SalesSales
SuppliesSupplies
Accounts PayableAccounts Payable
Merchandise InventoryMerchandise Inventory
Sales Tax PayableSales Tax Payable
CapitalCapital
Advertising ExpenseAdvertising Expense
Sales Tax PayableSales Tax Payable
PurchasesPurchases
DrawingDrawing
Purchases Returns and AllowancesPurchases Returns and Allowances
What is the classification What is the classification of the following accounts?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.
SuppliesSupplies
AssetAsset
Sales Tax PayableSales Tax Payable
Accounts ReceivableAccounts Receivable
CashCash
PurchasesPurchases
Income SummaryIncome Summary
Federal Income Tax PayableFederal Income Tax Payable
Miscellaneous ExpenseMiscellaneous Expense
Prepaid InsurancePrepaid Insurance
Merchandise InventoryMerchandise Inventory
SalesSales
Purchases Returns and AllowancesPurchases Returns and Allowances
When your slide show is complete:When your slide show is complete:
Go to File menuGo to File menu Click Send to Microsoft Office WordClick Send to Microsoft Office Word Click Outline OnlyClick Outline Only In Word, clean up your outline, if neededIn Word, clean up your outline, if needed Put your name in a headerPut your name in a header Print from WordPrint from Word You do not need to save this documentYou do not need to save this document SAVE YOUR POWERPOINTSAVE YOUR POWERPOINT