Examlex
Hair turns color when we age because the follicles at the base of the hair shaft cease to produce melanin. Melanin is a chemical that gives the hair shaft its color (black, brown, blond, red, and all shades in between) . The darkness or lightness of your hair depends on how much melanin each strand contains. With age, the cells in the follicle that produce melanin die off. As they do so, that hair strand will become silver, grey, or white, as it grows.
Interim Periods
Monthly or quarterly accounting time periods.
Annually
Occurring once every year.
Income Summary Account
An account used in the closing process to summarize the period's revenues and expenses before transferring the net income or loss to retained earnings.
Owner's Capital Account
Represents the total equity or investment that the owner has in the business, including initial investment and subsequent profits or losses.
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