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a worksheet is a permanent accounting record and its use is required in the accounting cycle. Choosing a position and support your answer.
Permanent record? False. It's a WORKSHEET. It's used as an aid to make adjusting entries and close the books at the end of a financial period. The financial statements are the permanent records; the worksheet isn't. I don't even use them anymore. [ [ That was back when things were done on paper. It's still useful as a teaching tool for accounting students though. After one knows 'what's going
on' with adjusting entries, one really doesn't have to go through the whole worksheet process. (At least I don't). And hence, no, it's NOT required either. ] ]
Expert answered|indica20|Points 20|
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Asked 10/31/2012 11:05:23 AM
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a worksheet is a permanent accounting record and its use is required in the accounting cycle. Choosing a position and support your answer.
Weegy: Permanent record? False. It's a WORKSHEET. It's used as an aid to make adjusting entries and close the books at the end of a financial period. The financial statements are the permanent records; the worksheet isn't. I don't even use them anymore. [ [ That was back when things were done on paper. It's still useful as a teaching tool for accounting students though. After one knows 'what's going on' with adjusting entries, one really doesn't have to go through the whole worksheet process. (At least I don't). And hence, no, it's NOT required either. ] ] (More)
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Asked 10/31/2012 11:01:39 AM
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a worksheet is a permanent accounting record and its use is required in the accounting cycle. Choosing a position and support your answer.
Weegy: Permanent record? False. It's a WORKSHEET. It's used as an aid to make adjusting entries and close the books at the end of a financial period. The financial statements are the permanent records; the worksheet isn't. I don't even use them anymore. [ [ That was back when things were done on paper. It's still useful as a teaching tool for accounting students though. After one knows 'what's going on' with adjusting entries, one really doesn't have to go through the whole worksheet process. (At least I don't). And hence, no, it's NOT required either. ] ] (More)
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Asked 10/31/2012 11:05:32 AM
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a worksheet is a permanent accounting record and its use is required in the accounting cycle. Choosing a position and support your answer.
Weegy: A work sheet is not a permanent accounting record When it is used: Financial statements are prepared from the work sheet Adjustments are journalized and posted from the work sheet after financial statements, [ so management can receive the financial statements more quickly To Prepare A Work Sheet: 1 Prepare the trial balance 2 Enter adjustments in the adjustments columns 3 Enter adjusted balances in adjusted trial balance columns 4 Extend adjusted trial balance amounts to the appropriate financial statement columns 5 Total the statement columns, compute net income (loss), and complete the work sheet ] (More)
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Asked 10/31/2012 11:53:51 AM
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a worksheet is a permanent accounting record and its use is required in the accounting cycle. Choosing a position and support your answer.
Weegy: A work sheet is not a permanent accounting record. [ When it is used: Financial statements are prepared from the work sheet Adjustments are journalized and posted from the work sheet after financial statements, so management can receive the financial statements more quickly To Prepare A Work Sheet: 1 Prepare the trial balance 2 Enter adjustments in the adjustments columns 3 Enter adjusted balances in adjusted trial balance columns 4 Extend adjusted trial balance amounts to the appropriate financial statement columns 5 Total the statement columns, compute net income (loss), and complete the work sheet. .............www.transtutors.com/questions/tts-accounting-cycle-109871.htm ] (More)
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Asked 10/31/2012 12:01:23 PM
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a worksheet is a permanent accounting record and its use is required in the accounting cycle. Choosing a position and support your answer.
Weegy: Permanent record? False. It's a WORKSHEET. It's used as an aid to make adjusting entries and close the books at the end of a financial period. The financial statements are the permanent records; the worksheet isn't. I don't even use them anymore. [ That was back when things were done on paper. It's still useful as a teaching tool for accounting students though. After one knows 'what's going on' with adjusting entries, one really doesn't have to go through the whole worksheet process. (At least I don't). And hence, no, it's NOT required either. ] (More)
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Asked 10/31/2012 12:22:46 PM
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