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QuickBooks Pro 2013 14th Edition by Janet Horne
Edition 14ISBN: 978-0133023350QuickBooks Pro 2013 14th Edition by Janet Horne
Edition 14ISBN: 978-0133023350 Exercise 22
WRITE THE LETTER OF THE CORRECT ANSWER IN THE SPACE PROVIDED BEFORE THE QUESTION NUMBER.
If the adjusting entry to transfer net income/retained earnings into the owner's capital account is made prior to the end of the year, the Balance Sheet shows _____.
A) Retained Earnings
B) Net Income
C) both Net Income and Retained Earnings
D) none of the above because the income/earnings has been transferred into capital
If the adjusting entry to transfer net income/retained earnings into the owner's capital account is made prior to the end of the year, the Balance Sheet shows _____.
A) Retained Earnings
B) Net Income
C) both Net Income and Retained Earnings
D) none of the above because the income/earnings has been transferred into capital
Explanation
Verified
Verified
"If the adjusting entry to transfer net ...
QuickBooks Pro 2013 14th Edition by Janet Horne
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