A company had revenues of $75,000, withdrawals of $10,000 and expenses of $62,000
during an accounting period. Which of the following entries should not be journalized in the closing process?
A)
B)
C)
D)
E) All of these should be journalized in the closing process.
Correct Answer:
Verified
Q22: The J. Dawson, Capital account has a
Q23: Current liabilities become due
A)Within the operating cycle
Q24: Which statement is incorrect?
A)Revenue accounts are closed
Q25: Which of the following is the final
Q26: The Income Summary account is used
A)To replace
Q28: Current Liabilities
A)Are listed in order of liquidity.
B)Are
Q29: The asset section of a classified balance
Q30: Emilia Feridy, the proprietor of EF Services,
Q31: A post-closing trial balance shows
A)All ledger accounts
Q32: After all closing entries are made and
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