Which one of the following would not be included in a closing entry at the end of the accounting year?
A)A credit to rent expense
B)A debit to unearned revenue
C)A debit to service revenue
D)A credit to dividends

Question

Quizplus · Accepted Answer

A closing entry is made to transfer the balances of temporary accounts (revenue, expense, and dividend accounts) to the retained earnings account. Unearned revenue is a liability account and is not closed because its balance is carried forward to the next accounting period. The other options are all temporary accounts and would be included in a closing entry.

Which One of the Following Would Not Be Included in a Closing