From the list that follows, identify the accounts that should be closed to the owner’s capital account at the end of the fiscal year: a. Accounts Receivable b. Accumulated Depreciation c. Building d. Depreciation Expense e. Fees Earned f. Jackie Lindsay, Capital g. Jackie Lindsay, Drawing h. Land i. Supplies
From the list that follows, identify the accounts that should be closed to the owner’s capital account at the end of the fiscal year: a. Accounts Receivable b. Accumulated Depreciation c. Building d. Depreciation Expense e. Fees Earned f. Jackie Lindsay, Capital g. Jackie Lindsay, Drawing h. Land i. Supplies
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 2EA: For each of the following accounts, identify whether it is nominal/temporary or real/permanent, and...
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From the list that follows, identify the accounts that should be closed to the owner’s capital account at the end of the fiscal year:
a. |
|
b. |
|
c. Building | |
d. Depreciation Expense | |
e. Fees Earned | |
f. Jackie Lindsay, Capital | |
g. Jackie Lindsay, Drawing | |
h. Land | |
i. Supplies | |
j. Supplies Expense | |
k. Unearned Rent | |
l. Wages Expense |
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