Multiple Choice
The balance in the J.Higgins,Withdrawals account was $3,000.The entry to close the account would include a:
A) debit to Income Summary,$3,000.
B) credit to Income Summary,$3,000.
C) debit to J.Higgins,Capital,$3,000.
D) debit to J.Higgins,Withdrawals,$3,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q7: Which of the following sequence of actions
Q73: The trial balance prepared after all of
Q90: Samantha's Design Studio showed office supplies
Q93: The entry to close the Fees Earned
Q95: The following normal account balances were
Q97: The income statement credit column of
Q104: After posting adjusting entries, the temporary accounts
Q110: The Rent Expense account had a normal
Q114: Closing entries are found in the adjustment
Q126: How do you close a revenue account?<br>A)