Mac's Accounting ch 10 part B

Match it! Select the correct answer from the pull down...Good luck!

The withdrawls account appears in the Income statement section of the worksheet

Accounts that start an accounting period with a zero balance are called..

___ are made to close out or reduce to zero the balance of certain general ledger accounts.

The ___ is a general ledger account used to accumulate and summarize the revenue and expenses for a period.

Expenses are temporary accounts

The withdrawls account is a permanent account

A___ ia a journal entry with two or more debits or two or more credits

A __ is prepared to prove that debits in the ledger accounts are equal to credits after the closing entries have been posted.