Question
1. A company had revenues of $15,000; expenses of $22,000 and dividends of $8,000. During the closing process, what was the net impact of all
1.
A company had revenues of $15,000; expenses of $22,000 and dividends of $8,000. During the closing process, what was the net impact of all the closing entries on Retained Earnings?
Increased by $15,000
Decreased by $22,000
Decreased by $15,000
Decreased by $30,000
2.
Which of the following options comes after closing entries are recorded and posted?
Financial Statements
Unadjusted Trial Balance
Adjusted Trial Balance
Post-Closing Trial Balance
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Healthcare Fraud Auditing And Detection Guide
Authors: Rebecca S. Busch
2nd Edition
978-1118179802
