In order to close the Dividends account, the
A) income summary account should be debited.
B) income summary account should be credited.
C) retained earnings account should be credited.
D) retained earnings account should be debited.
Correct Answer:
Verified
Q62: Closing entries are journalized and posted
A) before
Q69: The final closing entry to be journalized
Q75: The balance in the income summary account
Q94: A post-closing trial balance will show
A) only
Q96: The income statement for the month of
Q96: A post-closing trial balance should be prepared
A)
Q99: An error has occurred in the closing
Q102: A post-closing trial balance will show
A) zero
Q104: A double rule applied to accounts in
Q105: The heading for a post-closing trial balance
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