Classify the following accounts as real (permanent) or nominal (temporary) and indicate with an X whether the

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Classify the following accounts as real (permanent) or nominal (temporary) and indicate with an X whether the account is closed. Also indicate the financial statement in which each account will appear. The Building account is given as anexample.

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College Accounting

ISBN: 978-1111528126

11th edition

Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille

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Question Posted: Oct 21, 2014 02:15 AM

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Classify the following accounts as real (permanent) or nominal (temporary) and indicate with an X whether the

Question:

Closed Income Account Title Real Nominl Yes No Statement Balance Sheet 0. Example Building a. Prepaid Insurance b. Accounts Payable c. Wages Payable d. Services Revenue e. Rent Expense E Supplies Expense g. Accum. Depr., Equipment

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CLOSED INCOME BALANCE ACCOUNT TITLE REAL NOMINAL STAT...View the full answer

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