Multiple Choice
Which of the following is the correct treatment on the worksheet for the nominated item?
A) GST payable account, credit the income statement and credit the balance sheet.
B) Depreciation account, debit the balance sheet and credit the adjustments.
C) Cash at bank account, credit the adjustments and debit the balance sheet.
D) Profit earned, debit the income statement and credit the balance sheet.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: The correct closing entry for the bank
Q3: Which of these is not a purpose
Q4: In which order do these steps in
Q5: Dividends declared near the end of an
Q6: The post-closing trial balance contains only:<br>A) balance
Q7: Which of the following statements relating to
Q8: In which order do these steps in
Q9: Which of the following is the correct
Q10: Income and expense accounts can be referred
Q11: Which accounts are closed in the closing