Multiple Choice
The total revenues of $7,000, total expenses of $3,700 and dividends of $900 were recorded in the closing entries. The net change in Retained Earnings for the month was:
A) $6,100.
B) $3,300.
C) $2,400.
D) $4,200.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q145: A 40-month insurance policy was purchased for
Q146: A company started the year with no
Q147: Prepaid expenses are also called:<br>A)accrued expenses.<br>B)deferred expenses.<br>C)both
Q148: Which of the following accounts does NOT
Q149: The entry to close the revenue accounts
Q150: If a company forgets to make an
Q152: Wages that have been accrued need to
Q153: Accounting for revenue on an accrual basis
Q154: The journal entry to record $2,750 of
Q155: On the Income Statement, expenses are always