Which of the following accounts is a permanent account? Current ratio is calculated by dividing current assets by current liabilities. Debit Accounts Payable $1,600; credit Merchandise Inventory $32; credit Cash $1,568. Are obligations set by agreements, contracts, or laws. Oxford Packing Company reported net sales in November of the current year of $1,000,000. Favorite Answer. May depend on some future event occurring. star. A. All of the following regarding the current ratio are true except: a. B. interest income. inventory at the end of November of $226,750. Accumulated Depreciation-Equipment. Accounting information that has been developed primarily for use by external users is referred to as A. financial accounting. 4 of 5 2/21/2016 11:43 AM . Debit Cash $1,600; credit Accounts Payable $1,600. 8. Attestation de déplacement dérogatoire ; combien de millier d'hectares de forèts a t'on détruit pour cet illusoire laisser-passer ? 7. Assuming the, company's typical gross profit ratio is 50%, estimate the amount of inventory destroyed in the. Examples of revenue accounts include all of the following EXCEPT wages. Generally, the balance sheet accounts are permanent accounts, except for the owner's drawing account which is a balance sheet account and a temporary account. Asset accounts - asset accounts such as Cash, Accounts Receivable, Inventories, Prepaid Expenses, Furniture and Fixtures, etc. Use these account balances along with the additional information to journalize (a) adjusting entries and (b) closing entries. Purchase Discounts. Accrued revenue. d. retained earning . The company reported ending. b. the cost of building a parking lot. c. Current ratio helps to assess a company's ability to pay its debts in the near future. Chris G. 1 decade ago. Additional paid-in capital. D. Prepaid rent. The following list includes selected permanent accounts and all of the temporary accounts from the December 31 unadjusted trial balance of Emiko Co., a business owned by Kumi Emiko. Rent expense. kurla n answered on December 15, 2020. Permanent accounts include all of the following except: O Prepaid Insurance. Temporary accounts include all of the following except: A. are all permanent accounts. An account linked with another account that has an opposite normal balance and is subtracted from the balance of the related account is a(n): Contra account. sales of goods and services. 3-Current assets include all of the following, except: Select one: a. accounts payable. The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2011, unadjusted trial balance of Deacon Co., a business owned by Julie Deacon. o. Lv 4. Deacon Co. uses a perpetual inventory system. Permanent accounts include all of the following except: A. 1 Answer to All of the following are employer payroll taxes except : A.Federal income tax equal to that withheld from employees. Accounts Receivable. Which is the answer? 1. Prepare the necessary closing entries from the available information at December 31. B. Prepaid Insurance. Cash C. Fees Income D. Accounts Receivable Weegy: B. false. E. Income Summary. Liability accounts (notes payable, accounts payable, wages payable, etc.) New answers. Weegy: A post closing trial balance would include account balances for assets, liabilities, stockholders equity, revenues, expenses and dividends Expert answered|Marvel2|Points 77| Question. B. That cover less than one year, usually spanning one, three or six-month periods. All of the following are permanent accounts except A. retained earnings. 2020 accounting final exam answer sheet.pdf, Enjoy Moving and Shortage Services Company.docx, How-the-Economic-Machine-Works--Ray-Dalio, fin216_supexam_questions and solutinos combined.pdf, Wuhan Bioengineering Institute • ACCOUNTING Acfn 3222. 1 Approved Answer. Accounts Payable. 2 réponses. Real accounts are also referred to as permanent accounts. Vous avez encore des questions? Are definitely determinable. star. Permanent accounts include all of the following except: A. C. 0 0. Financial Accounting Practice Midterm 1.docx. Stockholders' equity accounts (common stock, retained earnings, etc.) Qu'en pensez vous de sa? Accounts that do not close at the end of the accounting year. Office Supplies C. Unearned Revenue D. Prepaid Rent. Updated 11/25/2017 11:52:49 AM . They include asset accounts, liability accounts, and capital accounts. 1 Answer to The ledger of Avril Company includes the following accounts with normal balances: L. Avril, Capital $6,000; L. Avril, Withdrawals $400; Services Revenue $10,000; Wages Expense $5,200; and Rent Expense $800. Prepald Insurance. 58. Consulting revenue. D. unearned revenue. Travail sur la chaine et les postes d'opérateur de production. 98 pages. O Prepaid rent. Fees Income account. Inscrivez-vous à Yahoo Questions/Réponses et recevez 100 points aujourd’hui. , wages payable, notes payable, notes payable, and payroll faux certificats de vaccination indetectables and accounts. It is permissible to enter information about a transaction in the journal include... Month of April, the company reported, beginning inventory of $ 226,750 gérant camping. A. retained earnings B ) closing entries vêtement vend un vêtement avec un défaut de et... 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