The closing entry for the Salaries Expense account includes a debit to:
A) Salaries Expense and a credit to Retained Earnings.
B) Salaries Expense and a credit to Net Income.
C) Retained Earnings and a credit to Salaries Expense.
D) Net Income and a credit to Salaries Expense.
Correct Answer:
Verified
Q163: After the closing entries are prepared and
Q164: The entry to close Service Revenue includes
Q165: The Shepherd Company has the following information
Q166: On a classified balance sheet:
A)Accounts Receivable is
Q167: The following accounts and balances are taken
Q169: The McCarthy Company has the following adjusted
Q170: The following accounts and balances are taken
Q171: When preparing the financial statements for a
Q172: Which of the following lists the accounts
Q173: The entry to close expense account(s)includes a:
A)debit
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents