Ch's 1&2 Kean Dry Cleaners and Evans projects			Ch 4
		Normal BAL	FS?	Temp
Account	Category	DR / CR	IS/OE/BS	Perm	Closed?
Insurance Expense	OE/EX	Dr	IS	Temp	Yes
Land
Fees Income
Notes Payable
O. Winfrey, Capital
Office Supplies

What is the "Fundamental Accounting Equation? _____________________________________

What are the 4 sub catagories of Owner's Equity? _________________________________________________________

Write the formulas for each of the following financial statements:

Income Statement:

Statement of Owner's Equity:

balance Sheet:

What are the formulas for adjusting entries?
Prepaids adjustment formula:
Formula for calculating Supplies Exp:
Formula for calculating Depreciation Exp:
What are FIVE types of adjusting entries?			1. 2. 3. 4. 5.
What are the account number ranges for each of the following catagories of accounts? See Canvas Lecture Ch 2 "Embellishment of text's account numbering" 5 pts each			Name the ten steps of the Accounting Cycle: 3pts each
	Answer		1
ASSETS			2
LIABILITIES			3
OWNER'S EQUITY			4
REVENUE			5
EXPENSES			6
			7
What are the two steps of Closing? 12 pts each			8
1			9
			10
2