Sumac lemonade isnât made with the sumac flowers, but rather those torch-like bundles of red fuzzy berries. Iâm most used to making sumac lemonade with the berries of the smooth sumac trees (Rhus glabra) , but I see no reason why staghorn or fragant sumacs wouldnât work just as well.
For example, a company might use a clearing account to hold revenue and costs when completing year-end fiscal calculations. When the company has finished placing the revenue and costs in the account it can then transfer the amount to the company's net earnings.
A permanent account, also called a real account, is a balance sheet account that is used to record activities that relate to future periods. The reason they are called permanent accounts is because they are never closed at the end of an accounting period. In a sense, they are permanent fixtures on the financial statements. Permanent accounts carry the ending balances of the balance sheet to the beginning of the next year. For instance, the ending inventory balance for year one is the beginning inventory balance for year two.