Identify worksheet columns for selected accounts. $($LO $1)$

Prepare closing entries from ledger balances.

$($LO $2)$

Post closing entries; underline and balance T$-$accounts.

$($LO $2)$

Journalize and post closing entries using the threecolumn form of account. $($LO $2)$

Identify post$-$closing trial balance accounts.

$($LO $2)$

List the required steps in the accounting cycle in sequence. $($LO $3)$

Prepare correcting entries. $($LO $3)$

BE$4-3$ The following selected accounts appear in the adjusted trial balance columns of the worksheet for Ashram Company: Accumulated Depreciation, Depreciation Expense, Owner's Capital, Owner's Drawings, Service Revenue, Supplies, and Accounts Payable. Indicate the financial statement column $($income statement Dr$.,$ balance sheet Cr$.,$ etc.$)$ to which each balance should be extended.

BE$4-4$ The ledger of Duston Company contains the following balances: Owner's Capital $\backslash (\backslash$$ $30,000\backslash ),$ Owner's Drawings $\backslash (\backslash$$ $2,000\backslash ),$ Service Revenue $\backslash (\backslash$$ $50,000\backslash ),$ Salaries and Wages Expense $\backslash (\backslash$$ $29,000\backslash ),$ and Supplies Expense $\backslash (\backslash$$ $7,000\backslash ).$ Prepare the closing entries at December $31.$

BE$4-5$ Using the data in BE$4-4,$ enter the balances in T$-$accounts, post the closing entries, and underline and balance the accounts.

BE$4-6$ The income statement for Arbor Vitae Golf Club for the month ending July $31$ shows Service Revenue $\backslash (\backslash$$ $16,400\backslash ),$ Salaries and Wages Expense $\backslash (\backslash$$ $8,400\backslash ),$ Maintenance and Repairs Expense $\backslash (\backslash$$ $2,500\backslash ),$ and Net Income $\backslash (\backslash$$ $5,700\backslash ).$ Prepare the entries to close the revenue and expense accounts. Post the entries to the revenue and expense accounts, and complete the closing process for these accounts using the three$-$column form of account.

BE$4-7$ Using the data in BE$4-3,$ identify the accounts that would be included in a postclosing trial balance.

BE$4-8$ The steps in the accounting cycle are listed in random order below. List the steps in proper sequence, assuming no worksheet is prepared, by placing numbers $\backslash (1-9\backslash )$ in the blank spaces.

BE$4-9$ At Raymond Company, the following errors were discovered after the transactions had been journalized and posted. Prepare the correcting entries.

$1.$ A collection on account from a customer for $\backslash (\backslash$$ $870\backslash )$ was recorded as a debit to Cash $\backslash (\backslash$$ $870\backslash )$ and a credit to Service Revenue $\backslash (\backslash$$ $870\backslash ).$

$2.$ The purchase of store supplies on account for $\backslash (\backslash$$ $1,510\backslash )$ was recorded as a debit to Supplies $\backslash (\backslash$$ $1,150\backslash )$ and a credit to Accounts Payable $\backslash (\backslash$$ $1,150\backslash ).$