Identify whether each of the following accounts is nominal/temporary or real/permanent. A. Accounts Receivable B. Fees Earned
Question:
Identify whether each of the following accounts is nominal/temporary or real/permanent.
A. Accounts Receivable
B. Fees Earned Revenue
C. Utility Expense
D. Prepaid Rent
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (14 reviews)
Step 1 To determine Concept introduction Closing entries are prepared after preparing the adjusted t...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
Identify whether each of the following substrates favors SN2, SN1, both, or neither: (a) (b) (c) (d) (e) (f) (g) -Br CI
-
Identify whether each of the following items would be classified as: Income from continuing operations (C) Income from discontinued operations (D) An extraordinary item (E) _____ a. $5,000 insurance...
-
Identify whether each of the following items would be classified as: Income from continuing operations (C) Income from discontinued operations (D) A change in accounting prin a. $2,500 gain on the...
-
Migration is a popular strategy among many species. Monarch butterflies migrate between the Sierra Madre mountains in Mexico and many locations across the USA and Canada. Answer the following...
-
How did the steel tariff affect the domestic steel industry, the workers in the steel industry, workers in steel-use industries, and consumers?
-
The following data (in millions) is taken from the financial statements of RONA inc. for years ended 2011 and 2010. a. For RONA, comparing 2011 with 2010, determine the amount of change in millions...
-
In problem 6.4, what percent of time is the order actually running? LO.1
-
For Briggs Company actual sales are $1,200,000 and break-even sales are $900,000. Compute (a) The margin of safety in dollars and (b) The margin of safety ratio.
-
Curly Farms manufactures the bags of frozen french fries used at many restaurants. Last week, Curly Farms purchased (transferred in from its potato farms) and used 104,000 kg of potatoes at a price...
-
Question 1 On 1/1/20X1, Illini issues $20,000 face amount 10% ordinary convertible bonds maturing 12/31/20X3. The bonds are issued at the face amount. Interest is paid semiannually on June 30 and...
-
For each of the following accounts, identify whether it is nominal/temporary or real/permanent, and whether it is reported on the Balance Sheet or the Income Statement. A. Interest Expense B....
-
The following selected accounts and normal balances existed at year-end. Make the four journal entries required to close the books: Accounts receivable Prepaid insurance Land Accounts payable Notes...
-
Give settings or statements to determine the solution with TVM Solver, Excel, or Wolfram|Alpha. Data in Exercise 9 Find the amount of a 30-year mortgage at 4.5% interest compounded monthly where the...
-
Do you think digital wallets will revolutionize electronic banking and in-store transactions? 2. How do you think digital wallets will affect traditional banks? 3. What are some of the risks of...
-
5.14 Strains are measured on the surface of a brass alloy part as follows: Ex 160010-6 y=1300106, and Yxy = 1500106. Estimate the in-plane stresses x, y, and Txy, and also the strain normal to the...
-
E) prepare preclosing trial balances at december 31,2026. for the debt service fund, considering only the proceeds, expenditures, and transfers resulting from transactions of the capital projects...
-
Explain at least 8 types of Google ads brieflyAnalyze the ad & share your opinion on its performance and suggest changes if required. * add the snapshots, and pictures of examples
-
Categorize each variable as quantitative or qualitative GPA is continuous Number of students is Discrete GPA ( Continuous) and Number of Students ( Discrete) GPA ( Discrete) and the Number of...
-
Determine the following indefinite integrals. dx Vx? .2 16
-
The Thomas Corporation was organized on Jan. 1, 2020. On Dec. 31, 2021, the corporation lost most of its inventory in a warehouse fire before the year-end count of inventory was to take place. just...
-
Noelle, the owner of all of the shares of ClockCo, an S corporation, transfers her stock to Grayson on April 1. ClockCo reports a $70,000 NOL for the entire tax year, but $10,000 of the loss occurs...
-
Greiner, Inc., a calendar year S corporation, holds no AEP. During the year, Chad, an individual Greiner shareholder, receives a cash distribution of $30,000 from the entity. Chads basis in his stock...
-
Holbrook, a calendar year S corporation, distributes $15,000 cash to its only shareholder, Cody, on December 31. Codys basis in his stock is $20,000, Holbrooks AAA balance is $8,000, and Holbrook...
-
September 1 . Purchased a new truck for $ 8 3 , 0 0 0 , paying cash. September 4 . Sold the truck purchased January 9 , Year 2 , for $ 5 3 , 6 0 0 . ( Record depreciation to date for Year 3 for the...
-
Find the NPV for the following project if the firm's WACC is 8%. Make sure to include the negative in your answer if you calculate a negative. it DOES matter for NPV answers
-
What is the value of a 10-year, $1,000 par value bond with a 12% annual coupon if its required return is 11%?
Study smarter with the SolutionInn App