For each of the following accounts, identify whether it is nominal/temporary or real/permanent, and whether it is reported on the Balance Sheet, Statement of Retained Earnings, or the Income Statement. Income Statement, Statement of Real/permanent or Accounts Retained Earnings, or Balance nominal/temporary Sheet 1. Accounts Payable [ Select ] [ Select ] 2. Insurance Expense [ Select ] [ Select ] 3. Accounts Receivable [ Select ] [ Select ] 4. Land [ Select ] [ Select ] 5. Cash [ Select ] [ Select ] 6. Dividends [ Select ] [ Select ] 7. Fees Earned Revenue [ Select ] [ Select ] 8. Interest Expense [ Select ] [ Select ] 9. Unearned Rent Revenue [ Select ] [ Select ] 10. Prepaid Rent [ Select ] [ Select ] | > > > > | >

For each of the following accounts, identify whether it is nominal/temporary or real/permanent, and whether it is reported on the Balance Sheet, Statement of Retained Earnings, or the Income Statement. Income Statement, Statement of Real/permanent or Accounts Retained Earnings, or Balance nominal/temporary Sheet 1. Accounts Payable [ Select ] [ Select ] 2. Insurance Expense [ Select ] [ Select ] 3. Accounts Receivable [ Select ] [ Select ] 4. Land [ Select ] [ Select ] 5. Cash [ Select ] [ Select ] 6. Dividends [ Select ] [ Select ] 7. Fees Earned Revenue [ Select ] [ Select ] 8. Interest Expense [ Select ] [ Select ] 9. Unearned Rent Revenue [ Select ] [ Select ] 10. Prepaid Rent [ Select ] [ Select ] | > > > > | >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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