When closing the expense account,which of the following accounts will also be closed?
A) Purchases Returns and Allowances
B) Merchandise Inventory
C) Sales Returns and Allowances
D) Prepaid Rent Expense
Correct Answer:
Verified
Q85: The post-closing trial balance is prepared from:
A)the
Q86: The adjusting entry to record rental income
Q88: For each of the following, identify
Q89: Beginning inventory is adjusted by debiting Income
Q91: For each of the following, identify
Q92: After the closing process, the permanent accounts
Q93: The entry to close the Freight-In account
Q95: Which of the following accounts will appear
Q100: Adjusting journal entries still need to be
Q100: The post-closing trial balance contains:
A) assets and
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