Solved

End of Year Records from Abbi's Boutique Show During the Closing Process the Total Debit to the Profit

Question 12

Multiple Choice

End of year records from Abbi's Boutique show: $ Cash 20 GST Outlays 35 Salaries Payable 10 Rent Expense 100 Interest Expense 50 Prepaid Rent 30 Salary Expense 20 Rent Collected in Advance 20\begin{array} { l r } & \$ \\\text { Cash } & 20 \\\text { GST Outlays } & 35 \\\text { Salaries Payable } & 10 \\\text { Rent Expense } & 100 \\\text { Interest Expense } & 50 \\\text { Prepaid Rent } & 30 \\\text { Salary Expense } & 20 \\\text { Rent Collected in Advance } & 20\end{array} During the closing process the total debit to the Profit and Loss Summary account would be:


A) $90
B) $170
C) $80
D) $110

Correct Answer:

verifed

Verified

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

Related Questions