Question
Big-Mouth Frog Corporation had revenues of $200,000, expenses of $120,000, and dividends of $30,000. When Income Summary is closed to Retained Earnings, the mount of
Big-Mouth Frog Corporation had revenues of $200,000, expenses of $120,000, and dividends of $30,000. When Income Summary is closed to Retained Earnings, the mount of the debit or credit to Retained Earnings is a which one is it?
Group of answer choices
debit of $50,000.
debit of $80,000.
credit of $50,000.
credit of $80,000.
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Forensic And Investigative Accounting
Authors: Crumbley D. Larry, Fenton Edmund D., Jr. Smith G. Stevenson
9th Edition
0808053221, 9780808053224
