Question: Are temporary and permanent earnings the same as temporary and permanent accounts??? what are good examples

Are temporary and permanent earnings the same as temporary and permanent accounts??? what are good examples

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Which one of the following statements is CORRECT? O Income statement accounts are temporary accounts O Balance sheet accounts are both temporary and permanent accounts 0 Balance sheet accounts are...

Q:

Questions Signify the item that most accurately and completely describes the accounts that would be reflected on a post-closing trial balance. Assume that closed accounts are not reflected on the...

Q:

got your answer Q.1. From the following transactions, you are required to identify the account (s) to be debited and credited and make the journal entry in the specified format. [8] Date Transaction...

Q:

Signify the item that most accurately and completely describes a the accounts that would be reflected on a post - closing trial balance. Assume that closed accounts are not reflected on the trial...

Q:

Which of the following accounts should be closed at the end of the year? a . Permanent Accounts b . Both Temporary and Permanent Accounts c . Temporary Accounts d . Balance Sheet Accounts

Q:

What is the difference between a temporary and permanent account? Which accounts are temporary accounts? Which accounts are permanent accounts?

Q:

Question 21 (1 point) Liquidity ratios measure the entity's ability to survive over a long period True False Question 22 (1 point) A furniture factory's employees work overtime in February to finish...

Q:

For each account listed below, determine whether it is a permanent account or a temporary account. Permanent Account Temporary Account Service Revenue Accounts Payable Accounts Receivable

Q:

I've attached the question as a word file, thanks! c04AccrualAccountingConcepts.qxd 8/3/10 1:50 PM Page 162 chapter 4 ACCRUAL ACCOUNTING CONCEPTS the navigator Scan Study Objectives Read Feature...

Q:

L O 0 3 - 0 2 Explain and apply the revenue and expense recognition principles.Skip t o question [ T h e following information applies t o the questions displayed below. ] I n this module, you will...

Q:

A farmer group produces and packages quails, and supplies them to a market segment using a single product focus strategy. The important features of this market segment are summarized in the demand...

Q:

Garth Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the following items: Patent with 5 remaining years of legal life ....$48,000 Goodwill...

Q:

Given the Java code below, what is the relationship between Pet and PetStore? public class PetStore privateArrayList

Q:

As the supeivisor of the assembly area in an electric motor manufacturing business, you notice that a group of motor housings has been rejec cause of an oversized hole in the side of the housing....

Q:

What are the possible long-term consequences for Janines employment status?

Q:

What are the steps in the T&D process?

Q:

Define training and development.