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Indicate Which of the Following General Ledger Accounts Are Temporary

Question 91

Matching

Indicate which of the following general ledger accounts are temporary (T)or permanent (P).

Premises:
Owner, Drawing
Insurance Expense
Income Summary
Accounts Payable
Cash
Owner, Capital
Accumulated Depreciation—Equipment
Accounts Receivable
Fees Earned
Prepaid Insurance
Responses:
permanent (P)
temporary (T)

Correct Answer:

Owner, Drawing
Insurance Expense
Income Summary
Accounts Payable
Cash
Owner, Capital
Accumulated Depreciation—Equipment
Accounts Receivable
Fees Earned
Prepaid Insurance
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