Which of the following accounts should not be closed to Income Summary at the end of the fiscal year?
A) Salaries Expense
B) Fees Earned
C) Utilities Expense
D) Withdrawals
Correct Answer:
Verified
Q8: When the balance in the Income Summary
Q10: When the balance of the Income Summary
Q13: To close the Withdrawals account,
A) debit Withdrawals;
Q18: When the balance of the Income Summary
Q23: Accounts in which the balances are carried
Q30: Which of the following columns of the
Q30: After posting the closing entries,which of the
Q31: How do you close the expense accounts?
A)
Q32: The correct order for closing accounts is:
A)
Q54: All permanent accounts can be found:
A) on
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