Assets, liabilities, and the owner's capital account, in contrast, are called permanent or. real accounts because their ending balance in one accounting period is always the starting balance in the subsequent accounting period. When an accountant closes an account, the account balance returns to zero. Starting with zero balances in the temporary accounts each year makes it easier to track revenues, expenses, and withdrawals and to compare them from one year to the next. There are four closing entries, which transfer all. 1.Close the income statement accounts with credit balances (normally revenue accounts) to a special temporary account named income summary.
Chairman, Ford Smart Mobility LLC. Jim Hackett is chairman of Ford Smart Mobility LLC, a subsidiary of Ford Motor Company formed to accelerate the companyâs plans to design, build, grow and invest in emerging mobility services. He was named to the position March 10, 2016.
James Milton Kelly, known professionally as Jim Kelly was an American athlete, actor, and martial artist. Kelly rose to fame in the early 1970s appearing in several blaxploitation films. Kelly is perhaps best known for his role as Williams in the 1973 martial arts action film Enter the Dragon. He also had lead roles in 1974's Black Belt Jones as the title character and Three the Hard Way as Mister Keyes. Kelly died of cancer on June 29, 2013 at age 67.