Solved

The Closing Entry for the Drawings Accounts Will Require

Question 18

Multiple Choice

The closing entry for the drawings accounts will require:

A) a debit to income summary.
B) a credit to the capital account.
C) a debit to the drawings account.
D) a debit to the capital account

Related Questions

Q11: Adjustments are journalized and posted only at

Q12: The post-closing trial balance will:<br>A) be prepared

Q13: Define and give an example of a

Q14: Identify the following accounts as either Temporary

Q15: If current assets are $1,500 and current

Q16: Non-current liabilities such as bank notes payable,

Q17: Unearned revenue is an example of a

Q19: The relationship between current assets and current

Q20: The following are the nine steps in

Q21: The proper sequence for the accounting cycle