Identify Which of the Following Accounts Should Be Closed with a Debit

question 141

Essay

Identify which of the following accounts should be closed with a debit or a credit at the end of the fiscal year. If it is not closed, mark as n/a.​
1. Utilities Payable
2. Utilities Expense
3. Supplies
4. Supplies Expense
5. Fees Earned
6. Unearned Fees
7. Accounts Receivable
8. Jason Hill, Drawing
9. Jason Hill, Capital
10. Accumulated Depreciation-Equipment
11. Depreciation Expense-Equipment
12. Equipment
13. Prepaid Insurance
14. Insurance Expense

Identify the brake system components for specific types of brakes.

Understand the principles behind brake system pressure and force multiplication.

Recognize the special considerations for braking systems in hybrid and electric vehicles.

Understand the impact of wars between Native American tribes and their consequences on the power dynamics in the Northeast.

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Definitions:

Standardized Forms

Pre-designed documents with uniform format and content used across various transactions or processes for efficiency and consistency.

Materially Alter

In contract law, it refers to a change that significantly affects the rights or obligations of the parties involved.

Acceptance

The act of agreeing to the terms of an offer, forming the basis of a contract.

Offer

A proposal presented by one party to another with the intention of entering into a legally binding agreement.