years . What is the amount that should be recorded as depreciation on December 31 ?
Question 19 . Question : A classified balance sheet : Measures a company ' s ability to pay its bills on time Organizes assets and liabilities into important subgroups
Presents revenues , expenses and net income
financing activities on retained earnings
Reports operating , investing and Reports the effect of profit and dividends
Question 20 . Question : The special account used only in the closing process to temporarily hold the amounts of revenues and expenses before the net difference is added to ( or subtracted from ) the retained earnings account is the :
Income Summary account Closing account Balance column account Contra account
years . What is the amount that should be recorded as depreciation on December 31 ?
Question 19 . Question : A classified balance sheet : Measures a company ' s ability to pay its bills on time Organizes assets and liabilities into important subgroups
Presents revenues , expenses and net income
financing activities on retained earnings
Reports operating , investing and Reports the effect of profit and dividends
Question 20 . Question : The special account used only in the closing process to temporarily hold the amounts of revenues and expenses before the net difference is added to ( or subtracted from ) the retained earnings account is the :
Income Summary account Closing account Balance column account Contra account