The total revenues of $6,500,total expenses of $3,500 and dividends of $500 were recorded in the closing entries.The net change in Retained Earnings for the month was:
A) $6,000.
B) $3,000.
C) $2,500.
D) $3,500.
Correct Answer:
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Q125: Preparing the post-closing trial balance is the
Q126: The closing entries show a debit to
Q128: Closing entries included debits to revenues for
Q131: The account to which revenue and expenses
Q132: Closing entries included debits to revenues for
Q133: Revenues are:
A)additions to Retained Earnings.
B)subtractions from Retained
Q133: The accounts that are NOT closed are:
A)Assets,Liabilities,and
Q138: Respectively, dividends, revenues, and expenses are:
A)temporary, permanent,
Q147: The post-closing accounting equation is:
A)assets = liabilities
Q153: _ entries transfer net income or net
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