The entry to close the Dividends account is debit
A) Income Summary and credit Dividends.
B) Retained Earnings and credit Dividends.
C) Dividends and credit Income Summary.
D) Dividends and credit Retained Earnings.
Correct Answer:
Verified
Q171: Use this information to answer the following
Q172: The post-closing trial balance contains
A) nominal accounts
Q173: After all closing entries have been posted,which
Q174: Formal closing entries ultimately will affect
A) the
Q175: Which account bypasses the Income Summary account
Q177: The post-closing trial balance would not include
Q178: The Income Summary account is credited in
Q179: Probably the last account to be listed
Q180: Failure to prepare formal closing entries will
Q181: Wages Payable were $700 at the end
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