Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Account Name Account type Normal balance? (Debit or Credit ?) Temporary account or permanent account? Does it get closed? Which financial statement is it reported?
Account Name | Account type
| Normal balance? (Debit or Credit ?) | Temporary account or permanent account? | Does it get closed? | Which financial statement is it reported? |
Cash | Current asset | Debit | Permanent | No | Balance sheet |
Depreciation expense |
|
|
|
|
|
Unearned revenue |
|
|
|
|
|
Common shares |
|
|
|
|
|
Equipment |
|
|
|
|
|
Retained earnings |
|
|
|
|
|
Rent expense |
|
|
|
|
|
Service revenue |
|
|
|
|
|
Copyrights |
|
|
|
|
|
Land |
|
|
|
|
|
Bonds payable |
|
|
|
|
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started