Identify Which of the Following Are Temporary Accounts of Sabrina

question 4

Short Answer

Identify which of the following are temporary accounts of Sabrina Company.
(1) Retained Earnings
(2) Dividends
(3) Equipment
(4) Accumulated Depreciation
(5) Depreciation Expense

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Definitions:

Cost/Unit

The total cost associated with creating or acquiring a product divided by the number of units, used to measure production or acquisition efficiency.

Reversal Of Write Downs

The process by which a previously recognized impairment loss on an asset is reversed, often because the reasons for the impairment have ceased, leading to an increase in the asset's carrying amount.

Net Realisable Value

The estimated selling price of goods, minus the costs of their sale or completion.

Write Down Reversal

The process of reversing a previously recorded write down, often due to an increase in the asset's value or a correction of the original value assessed.