Current Attempt in Progress

Match each term or phrase with its description below.

enses paid in cash before they are used or consumed.

difference between the cost of a depreciable asset and its related accumulated depreciation.

t of accounts and their balances after all adjustments have been made.

ies made at the end of an accounting period to ensure that the revenue

unition and expense recognition principles are followed.

ies at the end of an accounting period to transfer the balances of temporary accounts

permanent stockholders' equity account, Retained Earnings.

enue, expense, and dividend accounts whose balances a company transfers

etained Earnings at the end of an accounting period.

planned timing of revenues, expenses, gains, and losses to smooth out bumps in net income.

iccount that is offset against an asset account on the balance sheet.

mporary account used in closing revenue and expense accounts.

inces sheet accounts whose balances are carried forward to the next accounting period