ACC 557 TUTOR Great Stories /acc557tutor.com ACC 557 TUTOR Great Stories /acc557tutor.com | Page 28

14) Each of the following accounts is closed to Income Summary
except
All of these are closed to Income Summary.
Expenses.
Dividends.
Revenue
15) The account, Supplies, will appear in the following debit
columns of the worksheet.
Trial balance.
Adjusted trial balance.
Balance sheet.
All of these.
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ACC 557 Week 4 Chapter 6 (E6-1,E6-10,E6-14,P6-3A)
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ACC 557 Week 4 Chapter 6 (E6-1,E6-10,E6-14,P6-3A)
E6-1: Premier Bank and Trust is considering giving Alou
Company a loan. Before doing so, management decides that
further discussions with Alou’s accountant may be desirable. One
area of particular concern is the inventory account, which has
year-end balance of $297,000. Discuss with accountant.. ............