key point is identifying the temporary and permanent accounts, accounting homework help

Please respond to this post in 6 sentences or more.

The first key point is identifying the temporary and permanent accounts. Closing entries produce zero balance in temporary accounts. These temporary accounts data are then ready to accumulate in the next accounting period. The permanent accounts are kept open. The all revenue accounts, expense accounts, and owner’s drawings account are the temporary accounts. All Assets, Liabilities, and owner’s capital accounts are permanent accounts. Second, credit and debit are confusing with liabilities, current expense, unearned revenue, and prepaid expenses. The best way to understand these issues is first to know all the categories are involved with the process, and keep a note like a cheat sheet and always refer to it before making entries. Second, and the best way is that hire a professional for closing entries and let the professional do the work.

The reason I suggest to hire professional is because as a Business owner, there are other tasks involved in keeping the business running smooth and continuous progressing

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

If this is not the paper you were searching for, you can order your 100% plagiarism free, professional written paper now!

Order Now Just Browsing

All of our assignments are originally produced, unique, and free of plagiarism.

Free Revisions Plagiarism Free 24x7 Support