Solved

At December 31,2011,an Enterprise Fund Has the Following Adjusted Accounts

Question 36

Multiple Choice

At December 31,2011,an Enterprise Fund has the following adjusted accounts outstanding: At December 31,2011,an Enterprise Fund has the following adjusted accounts outstanding:   When preparing the closing entry for the temporary accounts at December 31,2011,the Enterprise Fund's accountant will A) credit Retained Earnings $8,000. B) credit Net Cash,$8,000. C) credit Net Assets,Unrestricted $8,000. D) credit Invested Capital Assets,Net of Related Debt,$8,000. When preparing the closing entry for the temporary accounts at December 31,2011,the Enterprise Fund's accountant will


A) credit Retained Earnings $8,000.
B) credit Net Cash,$8,000.
C) credit Net Assets,Unrestricted $8,000.
D) credit Invested Capital Assets,Net of Related Debt,$8,000.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions