Use the following adjusted trial balance to answer the question below. Which account bypasses the Income Summary account in the closing process?
A) John Clair,Withdrawals
B) Jet Ski Rentals
C) Depreciation Expense-Building
D) Wages Expense
Correct Answer:
Verified
Q82: The owner's Capital,Withdrawals,and Income Summary accounts for
Q84: The owner's Capital,Withdrawals,and Income Summary accounts for
Q85: The owner's Capital,Withdrawals,and Income Summary accounts for
Q88: The entry to close the Withdrawals account
Q91: Which of the following accounts would not
Q92: The owner's Capital,Withdrawals,and Income Summary accounts for
Q94: Closing entries will
A)decrease the owner's Capital balance.
B)either
Q97: Which of the following accounts is not
Q111: The post-closing trial balance contains
A)neither real accounts
Q115: Probably the last account to be listed
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