The accumulated depreciation account is closed to the retained earnings account.
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Q27: Closing entries are entered directly on the
Q33: A post-closing trial balance contains only asset
Q34: The post-closing trial balance will generally have
Q36: Assets, liabilities, and stockholders' equity accounts are
Q36: The trial balance prepared after all the
Q37: The dividends account is a temporary account.
Q37: Journalizing and posting closing entries must be
Q40: Accumulated Depreciation is a permanent account.
Q43: Financial statements should be prepared before the
Q45: The last step of the accounting cycle
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