general ledger accounts are temporary or permanen
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 2EB: Consider the following accounts and determine if the account is an asset (A), a liability (L), or...
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Indicate which of the following general ledger accounts are temporary or permanent.
a. | Cash | |
b. | Accounts Receivable | |
c. | Accounts Payable | |
d. | Prepaid Insurance | |
e. | Fees Earned | |
f. | Insurance Expense | |
g. | Accumulated Depreciation—Equipment | |
h. | Owner, Drawing | |
i. | Owner, Capital | |
j. | Income Summary |
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