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  4. Quiz 6: Closing Entries and the Postclosing Trial Balance

During the Closing Process,accumulated Depreciation,equipment Will

Question 59
Multiple Choice

During the closing process,Accumulated Depreciation,Equipment will A) be closed to the income summary account. B) be closed to the capital account. C) be closed to the drawing account. D) not be used.

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Q 60
Which of the following accounts has a normal debit balance? A) Accounts Receivable B) Accounts Payable C) Fees Income D) T.Stark,Capital
Q 61
Which of the following accounts has a normal credit balance? A) Accounts Receivable B) Accounts Payable C) Supplies Expense D) T.Stark,Drawing
Q 62
Which of the following statements is correct? A) The Balance Sheet section of the worksheet contains the data that is used to make closing entries. B) The balance of the owner's drawing account will appear on the post-closing trial balance. C) Closing entries are entered directly on the worksheet. D) Preparation of the post-closing trial balance is the last step in the end-of-period routine.
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