When a company prepares closing entries,which one of the following is NOT a correct closing entry?
A) Debit Retained Earnings;credit Salaries Expense.
B) Debit Dividends;credit Retained Earnings.
C) Debit Service Revenue;credit Retained Earnings.
Correct Answer:
Verified
Q145: The closing entry for expenses includes:
A)A debit
Q146: Permanent accounts would not include:
A)Interest Expense.
B)Salaries Payable.
C)Prepaid
Q147: Permanent accounts would not include:
A)Accounts Payable.
B)Office Supplies.
C)Utilities
Q148: Temporary accounts would not include:
A)Salaries Payable.
B)Advertising Expense.
C)Supplies
Q149: The following table contains financial information
Q151: For the first three years of operations,the
Q152: If a company records cash received for
Q153: Which of the following is true concerning
Q154: The primary purpose of closing entries is
Q155: The ending balance of Retained Earnings can
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