Identify each of the earnings items as primarily permanent or transitory in nature. Item Permanent or Transitory?
Question:
Item Permanent or Transitory?
Selling expenses______________________________
Sales salaries expense______________________________
Unrealized loss on available- for- sale bonds______________________________
Interest income______________________________
Depreciation expense______________________________
Amortization expense______________________________
Interest expense______________________________
Loss on asset impairment______________________________
Loss on sale of discontinued operations-- before tax ______________________________
Gain due to flood damage______________________________
Sales______________________________
Gain on disposal of plant assets______________________________
Office supplies expense______________________________
Advertising expense______________________________
Office salaries expense______________________________
Gain on trading investments______________________________
Cost of goods sold______________________________
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Item PermanentTransitory Selling expenses Permanent Sales sal...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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