Which of the following accounts would not be closed to the retained earnings account at the end

Question:

Which of the following accounts would not be closed to the retained earnings account at the end of a period?

a. Fees Earned

b. Wages Expense

c. Rent Expense

d. Accumulated Depreciation

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Survey Of Accounting

ISBN: 9781305961982

1st Edition

Authors: Carl S. Warren

See More Books

Question Posted: Feb 06, 2024 01:26 PM

See More Questions

Multiple-choice questions: a. Which of the following accounts would not appear on a conventional balance sheet? 1. Accounts Receivable 2. Accounts Payable 3. Patents 4. Gain from Sale of Land 5....
(Multiple Choice) 1. The Unearned Revenue account of Lorelai Incorporated began 2012 with a normal balance of $5,000 and ended 2012 with a normal balance of $15,000. During 2012, the Unearned Revenue...
1. If assets are $40,000 and stockholders equity is $10,000, how much are liabilities? a. $30,000 b. $50,000 c. $20,000 d. $60,000 e. $10,000 2. To which account in the Balance Sheet is the net...
Cost of goods available for sale consists of two elements: beginning inventory and: (a) ending inventory. (b) cost of goods purchased. (c) cost of goods sold. (d) All of the answer choices are...
A windmill with rotor diameter of 30 m takes 40% of the kinetic energy out as shaft work on a day with 20oC and wind speed of 30 km/h. What power is produced?
18.10 Why do some companies use gross book value instead of net book value to measure a divisions invested capital?
What assumptions underlie rational decision-making theories? LO.1
The city of Salinas entered into a contract with Souza & McCue Construction Co. to construct a sewer. City officials knew unusual subsoil conditions (including extensive quicksand) existed that would...
7. Ace Company manufactures two products, X and Y. The following information is given: Data regarding the two products follow: Product Direct labor hours required to make 1 unit Annual production...
Current assets and current liabilities for HQ Properties Company follow: a. Determine the working capital and current ratio for 20Y2 and 20Y1. b. Does the change in the current ratio from 20Y1 to...
Which of the following accounts would be classified as a current asset on the balance sheet? a. Office Equipment b. Land c. Accumulated Depreciation d. Accounts Receivable
Underground water is being pumped into a pool whose cross section is 3 m 4 m while water is discharged through a 5-cm-diameter orifice at a constant average velocity of 5 m/s. If the water level in...
Your friend Amber has approached you seeking advice concerning two investment opportunities that she is presently considering. Her classmate Simone has asked her for a loan of $5,000 to help...
Please read the following carefully. For each question on the exam, you should assume that: 1. unless expressly stated to the contrary, all events occurred in ?the current taxable year;? 2. all...
The pulse rates of 152 randomly selected adult males vary from a low of 37 bpm to a high of 117 bpm. Find the minimum sample size required to estimate the mean pulse rate of adult males. Assume that...
Can I get clear explanation how to work these. Thanking you in advance. 1. A rod 12.0 cm long is uniformly charged and has a total charge of -23.0 uC. Determine the magnitude and direction of the...
Poll Results in the Media USA Today provided results from a survey of 1144 Americans who were asked if they approve of Brett Kavanaugh as the choice for Supreme Court justice. 51% of the respondents...
In the old Michigan case featuring Rose the Cow, the court refused to enforce the agreement. Was this a fair result? Should bilateral mistakes create voidable contracts, or should Walker have been...
The words without recourse on an indorsement means the indorser is: a. not liable for any problems associated with the instrument. b. not liable if the instrument is dishonored. c. liable personally...
What are consolidated financial statements?
Using the data in question 15, prepare the adjusting entry assuming the securities are classified as trading securities.
Mark Barton owns a garage and is contemplating purchasing a tire retreading machine for $18,000. After estimating costs and revenues, Mark projects a net cash flow from the retreading machine of...
Indicate whether the following managerial policy increases the risk of a death spiral:Use of low operating leverage for productionGroup of answer choicesTrueFalse
It is typically inappropriate to include the costs of excess capacity in product prices; instead, it should be written off directly to an expense account.Group of answer choicesTrueFalse
Firms can avoid the death spiral by excluding excess capacity from their activity bases. Group of answer choicesTrueFalse

Which of the following accounts would not be closed to the retained earnings account at the end

Question:

Step by Step Answer:

d Since all revenue and expense accounts are closed a...View the full answer

Survey Of Accounting

Students also viewed these Business questions