The total revenues of $6,500,total expenses of $3,500 and dividends of $500 were recorded in the closing entries.The net income for the month was:
A) $6,000.
B) $3,000.
C) $2,500.
D) $3,500.
Correct Answer:
Verified
Q124: The account to which dividends are closed
Q129: Respectively, Inventory, Accounts Receivable, and Accounts Payable
Q133: The accounts that are NOT closed are:
A)Assets,Liabilities,and
Q137: Closing entries included debits to revenues for
Q138: Respectively, dividends, revenues, and expenses are:
A)temporary, permanent,
Q141: Which of the following accounts would NOT
Q141: Closing entries are prepared for which of
Q143: Which of the following do NOT appear
Q153: _ entries transfer net income or net
Q154: Closing the revenue, expense, and dividend accounts:
A)yields
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents