Identify whether each of the following accounts would be considered a permanent account (yes/ no) and which
Question:
Identify whether each of the following accounts would be considered a permanent account (yes/ no) and which financial statement it would be reported on (Balance Sheet, Income Statement, or Retained Earnings Statement).
A. Accumulated Depreciation
B. Buildings
C. Depreciation Expense
D. Equipment
E. Fees Earned Revenue
F. Insurance Expense
G. Prepaid Insurance
H. Supplies Expense
I. Dividends
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Step 1 Solution Particulars Permanent yes no Recorded on financial statement 1 Accumulated Depr...View the full answer
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Related Book For 
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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