Explain the difference between permanent and temporary accounts. Discuss.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
Permanent accounts are balance sheet accounts The balances in these accounts carry forward from ...View the full answer
Answered By
PRASHANT TYAGI
hello everyone | my name is PRASHANGT TYAGI and i am your educator and i have 4 year Teaching Experience and you ask me any question like friend , relative from biological and chemistry study line . and i can help in study for earning knowledge - THANK Q
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Explain the difference between permanent and temporary accounts.
-
Explain the difference between permanent accounts and temporary accounts. Why does an accounting system include both types of accounts?
-
What is the difference between permanent and temporary book-tax differences?
-
Drag and drop the protocols from the bank to their respective layer on the OSI and TCP/IP Model. Not every layer will have protocols associated with it. Protocols TCP/IP Model OSI Model Application...
-
The graph below shows the market for yuan: Suppose that the market for yuan and dollars is in equilibrium at point A. An increase in demand for Chinese exports causes the demand for yuan to shift to...
-
MaxiDrive manufactures a wide variety of parts for recreational boating, including a gear and driveshaft part for high-powered outboard boat engines. Original equipment manufacturers such as Mercury...
-
Calculate the return on common stockholders' equity for Evans \& Sons for 2018 and 2019. Did the return improve from 2018 to 2019? Evans \& Sons, Inc., disclosed the following information in a recent...
-
Laura sells mushrooms and strawberries to tourists. If Laura spends the morning collecting only mushrooms, she picks 8 pints; if she spends the morning picking strawberries, she collects 6 pints. If...
-
how can multifactorial productivity be applied in a hospital. use estimated values to show productivity calculation.
-
Define risk aversion in words without reference to probability distributions. If people are risk averse, why are lotteries so popular? Why are trips to Las Vegas popular?
-
A company sells merchandise on credit to a customer for $1,000. What is the impact on the balance sheets of the selling company and the customer? Explain.
-
Consider the steps of the accounting cycle (recording of transactional and adjusting journal entries, posting of entries, preparation of the trial balance, and recording and posting of closing...
-
In 2002, a four-year-long lawsuit against Microsoft by the Department of Justice was settled. The Departmentof Justice alleged that Microsoft had illegally maintained a monopoly in the operating...
-
A corporate bond has an annual coupon rate of 9%, payable semiannually, and a maturity of 25 years. Determine the bond's yield to maturity if its current yield is 7%.
-
You are the accountant for Medieval Castles, Inc. Preapre the journal entries to record the transactions below using the perpetual inventory method. 4 4 Points June 3 Purchased 2 0 0 play castles at...
-
EXPLAIN THE WHOLE ANSWER IN WORDS STEP BY STEP, ESPECIALLY THE LAST IMAGE WHERE THERE IS ASKED HOW?? EXPLAIN THE WHOLE IMAGE THROUGH PROPER FINANCIAL ACCOUNTING TERMS AND GIVE REASONS Table 15-2...
-
On January 2, Todd Company acquired 40% of the outstanding stock of McGuire Company for $205,000. For the year ending December 31, McGuire earned income of $48,000 and paid dividends of $14,000....
-
Under one particular term structure model: f(1.7)=0.03e-7-) +0.06(1-07-)). Sketch a graph of f(t.T) as a function of T, and derive expressions for B(t,T) and R(1.T).
-
In the 1990s, to see Michael Jordan or Garth Brooks live you had to buy the ticket through Ticketmaster, or from a scalper. Today, Ticketmaster has merged with concert promoter Live Nation and now...
-
As water moves through the hydrologic cycle, water quality changes are common because of natural phenomena or anthropogenic pollution. Using Figure 11.1, describe how water-quality changes occur...
-
A home microwave oven typically uses \(2.45-\mathrm{GHz}\) microwaves, and a microwave oven in a restaurant kitchen is more likely to run at \(915 \mathrm{MHz}\). Calculate the wavelength for each...
-
Jenny Brown opened a law office, on July 1, 2010. On July 31, the balance sheet showed Cash $5,000, Accounts Receivable $1,500, Supplies $500, Office Equipment $6,000, Accounts Payable $4,200, and...
-
On June 1, Michelle Sasse started Divine Creations Co., a company that provides craft opportunities, by investing $15,200 cash in the business. Following are the assets and liabilities of the company...
-
Michelle Rodriguez started her own consulting firm, Rodriguez Consulting, on May 1, 2010.The following transactions occurred during the month of May.May 1 Michelle invested $7,000 cash in the...
-
The Wildcat Oil Company is trying to decide whether to lease or buy a new computer - assisted drilling system for its oil exploration business. Management has decided that it must use the system to...
-
I would need step by step handwriting and MSWord, please. I appreciate your help. https://www.youtube.com/watch?v=HTTzlYqQv-w
-
Objective: The objective of the final report is for the group to assess their performance scenario based on a predetermined performance analysis model. You will also be required to provide...
Study smarter with the SolutionInn App