Instructions: Classify the accounts listed bellows as permanent or temporary, and indicate whether or not each account is closed. Also, indicate the financial statement in which each account will appear. Closed Balance Income Account Title Permanent Temporary Yes No Sheet Statement Example: Building Rent Expense Prepaid Insurance Accounts Receivable Supplies Expense Accumulated Depreciation Depreciation Expese Interest Payable Service Revenues Notes Payable Accrued Salaries Miscellaneous Income Uflities Expense Besario, Withdrawals Mortgage Payable Land
Instructions: Classify the accounts listed bellows as permanent or temporary, and indicate whether or not each account is closed. Also, indicate the financial statement in which each account will appear. Closed Balance Income Account Title Permanent Temporary Yes No Sheet Statement Example: Building Rent Expense Prepaid Insurance Accounts Receivable Supplies Expense Accumulated Depreciation Depreciation Expese Interest Payable Service Revenues Notes Payable Accrued Salaries Miscellaneous Income Uflities Expense Besario, Withdrawals Mortgage Payable Land
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 1PA: Identify whether each of the following accounts would be considered a permanent account (yes/no) and...
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