There are 4 steps in the closing process. For the accounts below, put a 1, 2, 3, or 4 on the line beside the account to indicate which step in the process it is closed in. Leave it blank if it should not be closed. | |||
| ___ | Drawing | ___ | Fares Earned |
| ___ | Miscellaneous Expense | ___ | Utilities Expense |
| ___ | Mortgage Note Payable | ___ | Property Taxes Payable |
| ___ | Notes Receivable | ___ | Rent Expense |
| ___ | Insurance Expense | ___ | Cash |
| ___ | Sales Taxes Payable | ___ | Salaries Payable |
| ___ | Income Summary | ___ | Buildings |
| ___ | Depreciation Expense | ___ | Fees Earned |
| ___ | Land | ___ | Accumulated Depreciation |
| ___ | Salaries Expense | ___ | Accounts Receivable |
| ___ | Capital | ___ | FICA Taxes Payable |
| ___ | Delivery Revenue | ___ | Wages Expense |
| ___ | Accounts Payable | ___ | Interest Income |
| ___ | Prepaid Insurance | ___ | Interest Income |
| ___ | Advertising Expense | ___ | Supplies |
| ___ | Equipment | ___ | Withdrawals |
| |||
| Drawing | Fares Earned | ||
| Miscellaneous Expense | Utilities Expense | ||
| Mortgage Note Payable | Property Taxes Payable | ||
| Notes Receivable | Rent Expense | ||
| Insurance Expense | Cash | ||
| Sales Taxes Payable | Salaries Payable | ||
| Income Summary | Buildings | ||
| Depreciation Expense | Fees Earned | ||
| Land | Accumulated Depreciation | ||
| Salaries Expense | Accounts Receivable | ||
| Capital | FICA Taxes Payable | ||
| Delivery Revenue | Wages Expense | ||
| Accounts Payable | Interest Income | ||
| Prepaid Insurance | Owner's Equity | ||
| Advertising Expense | Supplies | ||
| Equipment | Withdrawals | ||