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Author Question: ____________________ will be converted into cash or consumed within either one year or the normal ... (Read 68 times)

DyllonKazuo

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___________________ _ will be converted into cash or consumed within either one year or the normal operating cycle of the business, whichever is longer.
 Fill in the blank(s) with correct word

Question 2

Indicate the normal balance of the account with a DR or CR and identify each account as permanent (P) or temporary (T).
 
  Account Normal balance Permanent or
  temporary
  1. Prepaid insurance
  2. Insurance expense
  3. Notes receivable
  4. Interest revenue
  5. Interest receivable
  6. Notes payable
  7. Interest expense
  8. Interest payable



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tjayeee

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Answer to Question 1

Current assets

Answer to Question 2

1. DR, P; 2. DR, T; 3. DR, P; 4. CR, T; 5. DR, P; 6. CR, P; 7. DR, T; 8. CR, P




DyllonKazuo

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it


anyusername12131

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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