Use the Work Sheet for Finley Company to Answer the Questions

Multiple Choice

Use the work sheet for Finley Company to answer the questions that follow.

The entry to close expenses would be

A) Wages Expense 63,000 Rent Expense 27,000
Depreciation Expense 15,000
Income Summary 105,000
B) Expenses 105,000 Income Summary 105,000
C) Wages Expense 63,000 Rent Expense 27,000
Depreciation Expense 15,000
Dividends 105,000
D) Income Summary 105,000 Wages Expense 63,000
Rent Expense 27,000
Depreciation Expense 15,000