Temporary account: Temporary accounts are those final balances of accounts which are transfer to the income summary accounts (all revenues account, all expenses account and dividend). These accounts are transferred to Income summary account at the end of the accounting period to close the accounts every year. Permanent account: Permanent accounts are those accounts which are transferred to the balance sheet (all assets and liability account), and these accounts are permanent and carried forward to the next financial year. To identify: Whether the account is a temporary accounts (T) or a permanent account (P).

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Answer 1

Question

Chapter 4, Problem 4.9SE

To determine

Temporary account:

Temporary accounts are those final balances of accounts which are transfer to the income summary accounts (all revenues account, all expenses account and dividend). These accounts are transferred to Income summary account at the end of the accounting period to close the accounts every year.

Permanent account:

Permanent accounts are those accounts which are transferred to the balance sheet (all assets and liability account), and these accounts are permanent and carried forward to the next financial year.

To identify: Whether the account is a temporary accounts (T) or a permanent account (P).

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Answer 2

Question

Chapter 4, Problem 4.9SE

To determine

Temporary account:

Temporary accounts are those final balances of accounts which are transfer to the income summary accounts (all revenues account, all expenses account and dividend). These accounts are transferred to Income summary account at the end of the accounting period to close the accounts every year.

Permanent account:

Permanent accounts are those accounts which are transferred to the balance sheet (all assets and liability account), and these accounts are permanent and carried forward to the next financial year.

To identify: Whether the account is a temporary accounts (T) or a permanent account (P).

Expert Solution & Answer

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Answer 3

Question

Chapter 4, Problem 4.9SE

To determine

Temporary account:

Temporary accounts are those final balances of accounts which are transfer to the income summary accounts (all revenues account, all expenses account and dividend). These accounts are transferred to Income summary account at the end of the accounting period to close the accounts every year.

Permanent account:

Permanent accounts are those accounts which are transferred to the balance sheet (all assets and liability account), and these accounts are permanent and carried forward to the next financial year.

To identify: Whether the account is a temporary accounts (T) or a permanent account (P).

Expert Solution & Answer

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Answer 4

Question

Chapter 4, Problem 4.9SE

To determine

Temporary account:

Temporary accounts are those final balances of accounts which are transfer to the income summary accounts (all revenues account, all expenses account and dividend). These accounts are transferred to Income summary account at the end of the accounting period to close the accounts every year.

Permanent account:

Permanent accounts are those accounts which are transferred to the balance sheet (all assets and liability account), and these accounts are permanent and carried forward to the next financial year.

To identify: Whether the account is a temporary accounts (T) or a permanent account (P).

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Answer 5

Chapter 4, Problem 4.9SE

To determine

Temporary account:

Temporary accounts are those final balances of accounts which are transfer to the income summary accounts (all revenues account, all expenses account and dividend). These accounts are transferred to Income summary account at the end of the accounting period to close the accounts every year.

Permanent account:

Permanent accounts are those accounts which are transferred to the balance sheet (all assets and liability account), and these accounts are permanent and carried forward to the next financial year.

To identify: Whether the account is a temporary accounts (T) or a permanent account (P).

Answer 6

Chapter 4, Problem 4.9SE

To determine

Temporary account:

Temporary accounts are those final balances of accounts which are transfer to the income summary accounts (all revenues account, all expenses account and dividend). These accounts are transferred to Income summary account at the end of the accounting period to close the accounts every year.

Permanent account:

Permanent accounts are those accounts which are transferred to the balance sheet (all assets and liability account), and these accounts are permanent and carried forward to the next financial year.

To identify: Whether the account is a temporary accounts (T) or a permanent account (P).

Answer 7

Chapter 4, Problem 4.9SE

To determine

Temporary account:

Temporary accounts are those final balances of accounts which are transfer to the income summary accounts (all revenues account, all expenses account and dividend). These accounts are transferred to Income summary account at the end of the accounting period to close the accounts every year.

Permanent account:

Permanent accounts are those accounts which are transferred to the balance sheet (all assets and liability account), and these accounts are permanent and carried forward to the next financial year.

To identify: Whether the account is a temporary accounts (T) or a permanent account (P).

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 4 - Assets are listed on the balance sheet in the...Ch. 4 - Which of the following accounts would be included...Ch. 4 - Which situation indicates a net loss within the...Ch. 4 - Which of the following accounts is not closed? a....Ch. 4 - What do closing entries accomplish? a. Zero out...Ch. 4 - Which of the following is not a closing entry?Ch. 4 - Which of the following accounts may appear on a...Ch. 4 - Which of the following steps of the accounting...Ch. 4 - Clean Water Softener Systems has Cash of 600,...Ch. 4 - Which of the following statements concerning...

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