Which of the following accounts will be directly closed to Capital at the end of the fiscal year?
A) Salaries Expense
B) Fees Revenue
C) Withdrawals
D) Depreciation Expense
Correct Answer:
Verified
Q3: After posting the closing entries, which of
Q4: Closing entries will affect
A) total Assets.
B) Cash.
C)
Q5: Which of the following accounts is NOT
Q6: An account in which the balance is
Q7: Closing entries
A) need not be journalized since
Q8: When the balance in the Income Summary
Q9: Which of the following accounts would NOT
Q10: When the balance of the Income Summary
Q11: Income Summary
A) is a temporary account.
B) is
Q29: Which of the following accounts should NOT
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