Question and answer
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|
Question
Asked 10/31/2012 11:05:23 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
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)
Question
Expert Answered
Asked 10/31/2012 11:01:39 AM
0 Answers/Comments
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)
Question
Expert Answered
Asked 10/31/2012 11:05:32 AM
0 Answers/Comments
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)
Question
Expert Answered
Asked 10/31/2012 11:53:51 AM
0 Answers/Comments
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)
Question
Expert Answered
Asked 10/31/2012 12:01:23 PM
0 Answers/Comments
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)
Question
Expert Answered
Asked 10/31/2012 12:22:46 PM
0 Answers/Comments
23,892,030 questions answered
Popular Conversations
Small family owned businesses usually require applicants to submit ...
Weegy: TRUE. Small family owned businesses usually require applicants to submit electronic resumes.
2/8/2016 8:47:01 AM| 4 Answers
what led to school desegregations in the 1960s
Weegy:
2/9/2016 2:45:08 PM| 3 Answers
Which action associated with the United States' "return to normalcy" ...
Weegy: Washington Disarmament Conference was on 1921 and established a treaty between the United States, France, ...
2/8/2016 9:35:32 AM| 2 Answers
The King James Bible was written by A. King James. B. a ...
Weegy: The King James Bible was written by A. King James.
2/8/2016 12:55:50 PM| 2 Answers
Weegy Stuff
S
Points 301 [Total 698] Ratings 0 Comments 301 Invitations 0 Offline
S
P
P
Points 180 [Total 987] Ratings 0 Comments 180 Invitations 0 Offline
S
1
L
L
P
R
P
L
P
Points 117 [Total 11290] Ratings 0 Comments 117 Invitations 0 Offline
S
L
P
Points 46 [Total 2114] Ratings 0 Comments 46 Invitations 0 Offline
S
Points 13 [Total 297] Ratings 0 Comments 13 Invitations 0 Online
S
R
Points 11 [Total 447] Ratings 0 Comments 11 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 4 [Total 904] Ratings 0 Comments 4 Invitations 0 Offline
S
Points 2 [Total 2] Ratings 0 Comments 2 Invitations 0 Offline
S
Points 1 [Total 2] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)