Notice: Payments for answers will end 4/10/2017. Click for more info.
You have new items in your feed. Click to view.
Question and answer
Q: When prepaid expense items are initially recorded as assets, the end-of-period adjustments for these items should be reversed. (Points : 5) True False
A: This question has not been answered. Can you answer it? Please add your answer below ...
Get an answer
Original conversation
User: When prepaid expense items are initially recorded as assets, the end-of-period adjustments for these items should be reversed. (Points : 5) True False

User: The income summary account is a permanent account. (Points : 5) True False

User: Prepaid expenses appear in the (Points : 5) Operating Expenses section of the income statement. Other Expenses section of the income statement. Current Assets section of the balance sheet. Current Liabilities section of the balance sheet.

User: Which of the following accounts is not closed? (Points : 5) Income Summary Rent Expense Sales Merchandise Inventory

Question
Asked 4/3/2012 10:25:20 PM
Updated 6/10/2016 12:59:13 PM
4 Answers/Comments
Flagged by emdjay23 [6/10/2016 12:58:53 PM]
New answers
Rating
3
When prepaid expense items are initially recorded as assets, the end-of-period adjustments for these items should be reversed. TRUE.



Added 6/10/2016 12:58:49 PM
3
The income summary account is a permanent account. FALSE.

Added 6/10/2016 12:59:01 PM
3
Prepaid expenses appear in the current Assets section of the balance sheet.


Added 6/10/2016 12:59:09 PM
3
Merchandise Inventory is not closed.
Added 6/10/2016 12:59:13 PM
Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
26,586,269 questions answered
Popular Conversations
Find the value of Z in the following equation: 8Z = 64. A. 8 B. 72 ...
Weegy: 8Z = 64 User: Solve this inequality: 3p – 16 Weegy: 3p ? 16 User: Solve this inequality: 8z + 3 – 2z Weegy: 8z ...
1/17/2018 12:19:18 PM| 6 Answers
Dogs and cats filled the animal shelter and the noise they made was ...
Weegy: If you write a sentence with an unclear antecedent, it means you used a pronoun that could refer to more than ...
1/19/2018 3:27:31 PM| 4 Answers
If two angles are supplementary and one of them is 30 , what is the ...
Weegy: Two angles are supplementary. The first angle measures 60 . The measurement of the second angles is 120 . ...
1/23/2018 8:02:06 AM| 3 Answers
Solve this equation: 2s + s + 12 = 132. A. s = 120 B. s ...
Weegy: 2s + s + 12 = 132 User: Simplify this expression: 13 + (–12) – (–5) = ? A. –6 B. 6 C. –30 ...
1/14/2018 6:19:10 AM| 2 Answers
A binomial consists of _______ terms. A. 2 B. 3 C. 1 ...
Weegy: A binomial consists of two terms. User: Which of the following is a monomial? A. 2 + xyz B. 2x + ...
1/14/2018 6:22:47 AM| 2 Answers
If two angles are supplementary and one of them is 30°, what is the ...
Weegy: Two angles are supplementary. The first angle measures 60 . The measurement of the second angles is 120 . ...
1/14/2018 6:48:01 AM| 2 Answers
What was Nixon's role in the Watergate scandal? A. Nixon ...
Weegy: Nixon attempted to obstruct the investigation of the break-in was Nixon's role in the Watergate scandal. ...
1/22/2018 4:01:28 PM| 2 Answers
Simplify this expression: 19 – (–8) – (–14) = ? A. 25 ...
Weegy: 19 ? (?8) ? (?14)
1/15/2018 10:29:20 PM| 2 Answers
Weegy Stuff
S
L
R
Points 744 [Total 1036] Ratings 4 Comments 704 Invitations 0 Online
S
L
Points 139 [Total 4590] Ratings 0 Comments 79 Invitations 6 Offline
S
P
L
P
Points 70 [Total 188] Ratings 0 Comments 70 Invitations 0 Offline
S
Points 17 [Total 17] Ratings 0 Comments 17 Invitations 0 Offline
S
Points 12 [Total 12] Ratings 0 Comments 12 Invitations 0 Offline
S
L
Points 11 [Total 997] Ratings 1 Comments 1 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 0 Comments 0 Invitations 1 Offline
S
P
Points 5 [Total 44] Ratings 0 Comments 5 Invitations 0 Offline
S
Points 3 [Total 3] Ratings 0 Comments 3 Invitations 0 Offline
S
Points 1 [Total 2] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.