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OM Question 10 O Points If Revenues $150,000.Expenses Salaries and Wages Expense $90,000, Rent Expense 32,000 Advertising Expense 12,000, Supplies Expense 12,000, Utilities Expense 5,000,
OM Question 10 O Points If Revenues $150,000.Expenses Salaries and Wages Expense $90,000, Rent Expense 32,000 Advertising Expense 12,000, Supplies Expense 12,000, Utilities Expense 5,000, Insurance Expense 4,000. The entry to close Income Summary to Retained Earnings includes credits to Expenses totaling $15,000. a credit to Income Summary for $5,000. a credit to Retained Earnings for $5,000 a debit to Revenue for $150,000. Question 11 Points The final closing entry to be journalized is typically the entry that closes the A retained earnings account. B revenue accounts dividends account. D expense accounts
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