For 20X6, Matthews Company had revenues in excess of expenses. Which statement describes Matthews closing entries at
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For 20X6, Matthews Company had revenues in excess of expenses. Which statement describes Matthews’ closing entries at the end of 20X6?
a. Revenues will be credited, expenses will be debited, and retained earnings will be credited.
b. Revenues will be debited, expenses will be credited, and retained earnings will be debited.
c. Revenues will be credited, expenses will be debited, and retained earnings will be debited.
d. Revenues will be debited, expenses will be credited, and retained earnings will be credited.
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Jehal Shah
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Related Book For 
Financial Accounting International Financial Reporting Standards
ISBN: 9780273777809
1st Global Edition
Authors: Walter T Harrison, Charles Horngren, Bill Thomas, Themin Suwardy
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