Question: 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

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.

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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