【正文】 7 8 5 3 1 , 1 8 5 Classexercise ? Find out which account is temporary account. Account receivable Rent revenue Wages expense Unearned revenue Owner, capital Owner, withdrawals √ √ √ Summary ? Permanent account means that are not closed to a zero balance at the end of each accounting period. ? Temporary account means that are closed to a zero balance at the end of each accounting period. ? Closing Process means the steps to close temporary account. ? Closing Entry 實賬戶 虛賬戶 結(jié)賬過程 結(jié)賬分錄 Summary ? Ine Summary is a new account which record the amount brought of revenues and expenses. 本期損益 Assignment ? Explain why do we close the temporary account? Lesson 3 Preparing a PostClosing Trial Balance 編制結(jié)帳后試算平衡表 Postclosing trial balance ? A postclosing trial balance is a list of permanent accounts and their balances from the ledger after all closing entries have been journalized and posted. ? 結(jié)帳后試算平衡表用來反映結(jié)帳后所有實帳戶及其余額情況。 ? The accounts listed will be Assets, Liabilities, and Owner’s Equity at the end of the period. (the same accounts used on a balance sheet) Assignment Using the account information in the following adjusted trial balance for Booster’s Towing service: 1. Prepare the closing entries for December 31,2022 2. Post the closing entries 3. Prepare the postclosing trial balance at December 31,2022 Booster’s Towing Service Adjusted Trial Balance December 31,2022 Debit Credit Cash $7,000 Accounts receivable 3,000 Tow truck 31,000 Accumulated amortization, tow truck $27,000 Salaries payable 700 Terry Booster, capital 17,200 Terry Booster, withdrawals 2,300 Towing revenue 38,000 Salaries expense 30,000 Amortization expense, tow truck 5,000 Utilities expense 4,600 Totals $82,900 $82,900 Lesson 5 Classified Balance Sheet 分類資產(chǎn)負(fù)債表 Classified Balance Sheet ? A classified balance sheet anizes assets and liabilities into important subgroups to provide users with more useful information for making decision. Classification Groups ? Current Assets ? Which are cash and other resources that are expected to be sold, collected or used within the longer of one year or the pany’s operating cycle. ? Examples are cash, temporary investments, accounts receivable, notes receivable, supplies and prepaid expenses. Classification Groups ? Longterm investments ? Which are held for more than one year or the operating cycle. Classification Groups ? Property, Plant and Equipment (PPE) ? Which are tangible capital assets used to produce or sell products and services for more than one accounting period. ? Examples of PPE are equipments, vehicles, buildings, and land. Classification Groups ? Intangible assets ? Which are longterm resources used to produce or sell products and services. ? Examples are patents, trademarks, copyrights, and franchises. Classification Groups ? Current Liabilities ? Which are obligations due to be paid or settled within the longer of one year or the operating cycle. ? Examples are accounts payable, notes payable, wages payable, taxes payable, interest payable, and unearned revenues. Classification Groups ? Longterm Liabilities ? Which are obligations due beyond the longer of one year or the operating cycle. ? Examples are Notes payable, mortgages payable, bonds payable. 本章結(jié)束