Question
1. The entry to close Dividends would be A. debit Retained Earnings; credit Income Summary B. debit Income Summary; credit Dividends C. debit Retained Earnings;
1. The entry to close Dividends would be
A. debit Retained Earnings; credit Income Summary
B. debit Income Summary; credit Dividends
C. debit Retained Earnings; credit Dividends
D. debit Dividends; credit Retained Earings
2. The type of account and normal balance of Unearned Rent is
A. asset, credit
B. asset, debit
C. contra asset, credit
D. contra asset, debit
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Financial Accounting
Authors: Carl Warren, James M. Reeve, Philip E. Fess
8th Edition
0324025394, 978-0324025392
