When all expense accounts are closed, what account is debited? Each expense Income Summary Owners Withdrawal account Owners Capital account
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Each expense
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Income Summary
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Owners Withdrawal account
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Owners Capital account
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- Compute the net adjustment to Home office account.Which of the following accounts is a permanent account? Multiple Choice Fees earned. Office supplies expense. Interest revenue. Accounts payable. Salaries expense.Which of the following accounts is not a permanent account? Select one: a. Utilities Expense b. Cash in Bank c. Accounts Payable d. Retained Earnings
- Which of the following is a temporary account?Multiple Choice Retained Earnings Accounts Receivable Cash Salaries ExpenseIdentify the normal balance (debit [Dr] or credit [Cr]) for each of the following accounts: __________ Owner. Withdrawals. ________ Utilities Expense.Several accounts are listed below. Please indicate whether the account is a permanent or temporary account owner's capital rent income prepaid insurance accounts payable accounts receivable withdrawals Unearned revenue rent expense accumulated depreciation insurance expense cash sales revenue