Multiple Choice
In order to close the Owner's Drawings account, the
A) Income Summary account should be debited.
B) Income Summary account should be credited.
C) Owner's Capital account should be credited.
D) Owner's Capital account should be debited.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q42: Which of the following is a true
Q58: The relationship between current assets and current
Q95: Assuming that there is a loss for
Q96: A post-closing trial balance will show<br>A) zero
Q101: The unadjusted trial balance columns of the
Q102: Keswick Industries has the following current assets
Q103: The owner's drawings account is closed to
Q128: Although it may look unusual, when preparing
Q233: Closing revenue and expense accounts to the
Q235: The owner's drawings account is a permanent