Multiple Choice
To close the Fees Earned account,
A) debit Income Summary; credit Fees Earned.
B) debit Fees Earned; credit Capital.
C) debit Fees Earned; credit Income Summary.
D) debit Capital; credit Fees Earned.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q68: Determine the beginning assets of a business
Q96: The revenue accounts debited and the Income
Q103: When closing the Withdrawal account,<br>A) Capital would
Q104: After posting adjusting entries, the temporary accounts
Q105: Name the steps in the manual accounting
Q106: B. Benson's worksheet showed the revenue account,
Q107: From the following accounts, prepare in
Q111: The income statement debit column of
Q112: To close the Withdrawals account,<br>A) debit Withdrawals;
Q113: Income Summary is a temporary account located