Question

Required
a. Identify which of the following accounts are temporary (will be closed to Retained Earnings at the end of the year) and which are permanent:
(1) Other Operating Expenses
(2) Utilities Expense
(3) Retained Earnings
(4) Salaries Expense
(5) Land
(6) Dividends
(7) Service Revenue
(8) Cash
(9) Salaries Payable
(10) Common Stock
b. List and explain the four stages of the accounting cycle. Which stage must be first? Which stage is last?


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  • CreatedApril 20, 2015
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