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Is service revenue a permanent account?

Is service revenue a permanent account?

Accounting

Is service revenue a permanent account? Service revenue is the income that a company generates from rendering a service. A …

Is service revenue a permanent account? Read More »

Income Statement Ratios Formulas and Examples

Accounting

Income statement ratios are important when analyzing the income statement of a company. The income statement ratios formulas are created …

Income Statement Ratios Formulas and Examples Read More »

Statement of cash flows operating investing financing

Statement of Cash Flows Examples and Purpose

Accounting

The statement of cash flows or cash flow statement is an important financial statement that shows the cash inflows and …

Statement of Cash Flows Examples and Purpose Read More »

is prepaid expense an asset?

Is Prepaid Expense an Asset?

Accounting

Is prepaid expense an asset? Oftentimes, businesses incur a type of expense known as a prepaid expense where a company …

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Is prepaid rent a permanent account

Is Prepaid Rent a Permanent Account?

Accounting

Is prepaid rent a permanent account? Prepaid rent is the rent paid before the rental period to which it is …

Is Prepaid Rent a Permanent Account? Read More »

What type of account is sales returns and allowances?

What type of Account is Sales Returns and Allowances?

Accounting

What type of account is sales returns and allowances? Although goods are sold to customers, not all customers are satisfied …

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Unearned revenue is what type of account?

Unearned revenue is what type of account?

Accounting

Unearned revenue is what type of account? There are situations whereby companies receive payment from customers for goods or services …

Unearned revenue is what type of account? Read More »

what type of account is cost of goods sold

What type of account is cost of goods sold?

Accounting

What type of account is cost of goods sold? The cost of goods sold (COGS) is a listed item on …

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Is-cost-of-goods-sold-a-debit-or-credit

Is Cost of Goods Sold a Debit or Credit? (COGS)

Accounting

Is cost of goods sold a debit or credit? Transactions are usually recorded in accounting as a debit or credit …

Is Cost of Goods Sold a Debit or Credit? (COGS) Read More »

Sales-discount-debit-or-credit

Is Sales Discount Debit or Credit?

Accounting

Is sales discount debit or credit? When companies sell goods or render services, they may offer sales discount. These transactions …

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