Multiple Choice
The entry to close the Depreciation Expense account would include a debit to:
A) the Income Summary and a credit to Cash.
B) the Income Summary account and a credit to the Depreciation Expense account.
C) the Cash account and a credit to the Income Summary account.
D) the Depreciation Expense account and a credit to the Income Summary account.
Correct Answer:

Verified
Correct Answer:
Verified
Q8: Following are the steps in the accounting
Q9: Use the following account balances from the
Q10: A post-closing trial balance could include all
Q11: Which of the following statements is not
Q12: Which of the following accounts is not
Q14: Identify the accounts below that are ALL
Q15: The revenue account Fees Income is closed
Q16: After all the closing entries are posted,
Q17: If a business has a net loss
Q18: Which of the following statements is not