Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Revenue has a credit balance of OMR 15,000 in Muscat Co. if the closing entry will made at the year end, The entry to close

image text in transcribed
Revenue has a credit balance of OMR 15,000 in Muscat Co. if the closing entry will made at the year end, The entry to close Revenue is: Select one: O a. debit Income Summary OMR15,000, credit Revenue OMR15,000 O b. debit Income Summary OMR20,000, credit Revenue OMR20,000 c. debit Revenue OMR15,000. credit Income Summary OMR15,000. d. debit Revenue OMR15,000, credit Ahmad, Capital OMR15,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Handbook Of Communication Audits For Organisations

Authors: Owen D.W. Hargie, Dennis Tourish

1st Edition

0415186420, 978-0415186421

More Books

Students also viewed these Accounting questions

Question

What is a TinyOS component?

Answered: 1 week ago

Question

Please make it fast 1 3 1 . .

Answered: 1 week ago