Use this information from the Income Statement columns of the work sheet of Oneida Landscape Service to answer the following question. The entry to close the expense accounts would be
A) All Expenses 3,600 Retained Earnings 3,600
B) All Expenses 3,600 Income Summary 3,600
C) Income Summary 3,600 All Expenses 3,600
D) Retained Earnings 3,600 All Expenses 3,600

Question

Use this information from the Income Statement columns of the work sheet of Oneida Landscape Service to answer the following question.  The entry to close the expense accounts would be
A) All Expenses 3,600 Retained Earnings 3,600 
B) All Expenses 3,600 Income Summary 3,600 
C) Income Summary 3,600 All Expenses 3,600 
D) Retained Earnings 3,600 All Expenses 3,600

Quizplus · Accepted Answer

The Answer of Use this information from the Income Statement columns of the work sheet of Oneida Landscape Service to answer the following question.  The entry to close the expense accounts would be
A) All Expenses 3,600 Retained Earnings 3,600 
B) All Expenses 3,600 Income Summary 3,600 
C) Income Summary 3,600 All Expenses 3,600 
D) Retained Earnings 3,600 All Expenses 3,600

Use This Information from the Income Statement Columns of the Work