Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. if i said the "red" type accounts have a short lif

If I said the "RED" type accounts have a short life, what might I be...

60.1K

Verified Solution

Question

Accounting

If I said the "RED" type accounts have a short life, what might I be referring to? (hint: D = A, in the 'vera' context) What permanent account inherits all the "RED" activity? (informally at interim periods, formally at fiscal year end) The 'year-end' entry affecting these RED accounts is called the _________ entries. Once these year-end entries are completed/posted, what are the only "type" of accounts that remain in the 'post' closing trial balance

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A $1,000 par value bond was issued 30 years ago at a 12 percent coupon rate....

Finance
Q

Use the following info for Questions 6-10. Classic Golf, Inc., manages five golf courses in Florida....

Basic Math
Q

(1 point) Use the method of undetermined coefficients to find a solution of y′′−4y′+33y=64e2tcos(5t)+64e2tsin(5t)+2e1t.y″−4y′+33y=64e2tcos⁡(5t)+64e2tsin⁡(5t)+2e1t. Use a and b...

Advance Math
Q

2. Explain how the directional movement of phosphates from ATP to water can be used to...

Medical Sciences
Q

(a) Explain why there is no distinction between low- and high-spin arrangements for an octahedral d8...

Chemistry
Q

4a 2 marks Series Sequence Mia baked a very large apple pie that she cuts...

Basic Math
Q

2 1 point The legs of a right triangle are 3 in and 4 in...

Algebra
Q

Show Me How Priet lem Direct Materials Purchases Budget Romano's Frozen Pizza Ic. has determined...

Accounting
Q

Earnings Per Share Complex Capital Structure E15.24.a. Prepare a schedule to compute both basic and...

Accounting
Q

3. The purpose of a flexible budget is: a. to cap discretionary expenditure. b. to...

Accounting
Q

You purchased an annual interest coupon bond one year ago that now has six years...

Finance
Q

Inflation affects money by increasing money's efficiency as a medium of exchange limiting money's role...

Finance