The income statement credit column of the worksheet showed the following revenues:
The journal entry to close the revenue accounts is:
Correct Answer:
Verified
Q43: J. Oakely showed a net loss of
Q44: The business failed to close any of
Q45: The Rent Expense account had a normal
Q46: The entry to close the Withdrawal account
Q47: The following normal account balances were found
Q49: The entry to close the revenue account(s)
Q50: The balance in the J. Higgins, Withdrawals
Q51: M. Sims showed a net income of
Q52: Closing entries will:
A) decrease the Owner's Capital.
B)
Q53: The following normal account balances were found
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