What accounts are permanent, Accounting Basics

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What accounts are permanent

The following information was drawn from the accountin records of Spartan Company as of December 31, 2010, before the temporary accounts had ben closed. The cash balance was $3000, and Notes Payable amounted to $1,300. The company had revenues of $4,500 and expenses of $2,000. The company's Land account had a $5,000 balance. Dividends amounted to $300. There was $1,000 of common stock issued.

What accounts are permanent and which ones are temporary?

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Accounting Basics: What accounts are permanent

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Q : What accounts are permanent

The company had revenues of $4,500 and expenses of $2,000. The company's Land account had a $5,000 balance. Dividends amounted to $300. There was $1,000 of common stock issued. What accounts are permanent and which ones are temporary?

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Accounting Basics: What accounts are permanent

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Recent Questions Asked Accounting Basics

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Accounting Basics: What accounts are permanent

Reference No:- TGS083303

Recent Questions Asked Accounting Basics

Q : If you examined the root tip of an oak tree in the fall

Q : Create an autocorrect entry that inserts dublin repertory

Q : How vision statements of organization help-communicate goals

Q : Data that represents the height, width, and depth of the box

Q : What accounts are permanent

Q : It uses the readbankacounts() method

Q : Difference between a cdna library and a genomic library

Q : Prepare the adjusting journal entry to correctly

Q : Create a situation to make a raise adjustment

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