Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 28, 2024

1--Identify the three categories of temporary or nominal accounts or provide some examples of temporary accounts. ] 2--Identify the four categories of permanent accounts

1--Identify the three categories of temporary or nominal accounts or provide some examples of temporary accounts. ] 2--Identify the four categories of permanent accounts or provide some examples of permanent accounts. 3--Why do you think some accounts are permanent and other accounts are temporary?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Human Resource Management

Authors: John Ivancevich, Robert Konopaske

12th edition

9780077496906, 78029120, 77496906, 978-0078029127

More Books

Students also viewed these Accounting questions

Question

★★★★★

Listed below are measured amounts of caffeine (mg per 12 oz of drink) obtained in one can from each of 20 brands (7-UP, A&W Root Beer, Cherry Coke, . . . , Tab). Are the statistics representative of...

Answered: 1 week ago

Question

★★★★★

Min Co. is a publicly held company whose shares are traded in the over-the-counter market. The stockholders equity accounts at December 31, 2006 had the following balances: Preferred stock, $100 par...

Answered: 1 week ago

Question

★★★★★

For each of the following items, indicate whether it would appear on a materials requisition form (MRF), a direct labor time ticket (DLTT), and/or a job cost sheet (JCS). Note: An item may appear on...

Answered: 1 week ago

Question

★★★★★

If X has a geometric distribution, then P(X k + r|X k) = P(X r) for any nonnegative integers k and r.

Answered: 1 week ago

Question

★★★★★

At the end of 2010, Payne Industries had a deferred tax asset account with a balance of $30 million attributable to a temporary booktax difference of $75 million in a liability for estimated...

Answered: 1 week ago

Question

★★★★★

Question 3 6 1 pts An IPv 6 q , address is equivalent to an IPv 4 private address. Global unicast Unique local Public unicast Private multicast

Answered: 1 week ago

Question

★★★★★

1. FILING OF ANNUAL INCOME TAX RETURN FOR DOMESTIC CORPORATIONS WITH REGULAR TAX Instructions: 1. Download BIR Forms 1702-RT Version 2018 at http://www.bir.gov.ph 2. Input ALL the necessary...

Answered: 1 week ago

Question

★★★★★

1. BaCo opens its business in 20X2 and purchases merchandise on account for $88,000. In 20X2, BaCo pays $67,000 cash on the $88,000 due, sales are $145,000, and ending inventory is $24,000. BaCo's...

Answered: 1 week ago

Question

★★★★★

Miller Company's contribution format income statement for the most recent month is shown below: Total Sales (25,800 units) Variable expenses $ 232,200 139,320 Contribution margin 92,880 Per Unit $...

Answered: 1 week ago

Question

★★★★★

Tired of her current home's high electric bills, Sandra decides that her next home will have oil heat, but she is concerned about the liability hazards this might involve. To avoid a major pollution...

Answered: 1 week ago

Question

★★★★★

For simple orders (e.g., additional handsets or equipment), or when a customer has its own technical team to determine the necessary equipment, Company A's sales team verifies that the goods are...

Answered: 1 week ago

Question

★★★★★

The following information refers to parts 1-5 below, select the right answer from the drop-down menu and answer the compute questions. Consider a three-period (0, 1, and 2) binomial time-state model...

Answered: 1 week ago

Question

★★★★★

create a purchases, payable reconciliation summary. report^ Transaction Sources Cash registers - for cash sales Invoices -- for credit sales Cheque book - for cash payments Deposit books - for cash...

Answered: 1 week ago

Question

★★★★★

For the following arrangements, discuss whether they are 'in substance' lease transactions, and thus fall under the ambit of IAS 17.

Answered: 1 week ago

Question

★★★★★

Discuss whether the changes described in each of the cases below require recognition in the CPAs report as to consistency. (Assume that the amounts are material.) (a) After 3 years of computing...

Answered: 1 week ago

Question

★★★★★

Identify which basic principle of accounting is best described in each item below. (a) Norfolk Southern Corporation reports revenue in its income statement when it is earned instead of when the cash...

Answered: 1 week ago

Question

★★★★★

Which constraints on accounting information are illustrated by the items below? (a) Zips Farms, Inc. reports agricultural crops on its balance sheet at market value. (b) Crimson Tide Corporation does...

Answered: 1 week ago

Previous Question Next Question