Solved

The Closing Entry for the Salaries Expense Account Includes a Debit

Question 80

Multiple Choice

The closing entry for the Salaries Expense account includes a debit to:


A) Salaries Expense and a credit to Retained Earnings.
B) Salaries Expense and a credit to Net Income.
C) Retained Earnings and a credit to Salaries Expense.
D) Net Income and a credit to Salaries Expense.

Correct Answer:

verifed

Verified

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

Related Questions

Q75: The balance sheet reports:<br>A)assets,liabilities and stockholders' equity.<br>B)the

Q77: The revenue principle states that revenue should

Q78: The Houston Mavericks basketball team receives $6,500

Q79: Which of the following transactions would be

Q81: Depreciation allocates the cost of land to

Q82: Under accrual accounting,revenue is recorded:<br>A)when the cash

Q83: Expenses have a future benefit to the

Q84: The debt ratio is computed by dividing:<br>A)total

Q85: In an adjusting entry,the debit to the

Q145: The dividends account is a permanent account.