menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    College Accounting
  4. Exam
    Exam 5: The Accounting Cycle Completed: Closing and Post-Closing Trial Balance
  5. Question
    To Close the Withdrawals Account
Solved

To Close the Withdrawals Account

Question 112

Question 112

Multiple Choice

To close the Withdrawals account,


A) debit Withdrawals; credit Capital.
B) debit Capital; credit Withdrawals.
C) debit Withdrawals; credit Income Summary.
D) debit Income Summary; credit Withdrawals.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q22: Accounts in which the balances are carried

Q68: Determine the beginning assets of a business

Q96: The revenue accounts debited and the Income

Q107: From the following accounts, prepare in

Q108: To close the Fees Earned account,<br>A) debit

Q111: The income statement debit column of

Q113: Income Summary is a temporary account located

Q114: Closing entries are found in the adjustment

Q115: On the basis of the following

Q117: When closing the Income Summary account when

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines