The following are selected accounts of Laura Gibson Company on December 31: Required In the space provided:
Question:
The following are selected accounts of Laura Gibson Company on December 31:
Required
In the space provided:
1. Indicate if the account is a permanent (P) or temporary (T) account.
2. Indicate the normal balance in terms of debit (Dr.) or credit(Cr.).
Transcribed Image Text:
Permanent (P) or Temporary (T) Normal Balance (Dr.) or (Cr.) Cash Accounts Receivable Equipment Accounts Payable Common Stock Sales Purchases Rent Expense Utility Expense Selling Expense
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Permanent P or Temporary T Normal Balance Dr ...View the full answer
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Related Book For
Financial Reporting and Analysis Using Financial Accounting Information
ISBN: 978-1439080603
12th Edition
Authors: Charles H Gibson
Question Posted:
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