Use the work sheet for Finley Company to answer the questions that follow.

The entry to close Dividends would be
A)debit Retained Earnings,$3,000;credit Dividends,$3,000
B)debit Retained Earnings,$12,000;credit Dividends,$12,000
C)debit Dividends,$3,000;credit Retained Earnings,$3,000
D)debit Dividends,$12,000;credit Retained Earnings,$12,000

Question

Use the work sheet for Finley Company to answer the questions that follow.

The entry to close Dividends would be
A)debit Retained Earnings,$3,000;credit Dividends,$3,000 
B)debit Retained Earnings,$12,000;credit Dividends,$12,000 
C)debit Dividends,$3,000;credit Retained Earnings,$3,000 
D)debit Dividends,$12,000;credit Retained Earnings,$12,000

Quizplus · Accepted Answer

The Answer of Use the work sheet for Finley Company to answer the questions that follow.

The entry to close Dividends would be
A)debit Retained Earnings,$3,000;credit Dividends,$3,000 
B)debit Retained Earnings,$12,000;credit Dividends,$12,000 
C)debit Dividends,$3,000;credit Retained Earnings,$3,000 
D)debit Dividends,$12,000;credit Retained Earnings,$12,000

Use the Work Sheet for Finley Company to Answer the Questions