which of the following accounts should be closed to income summary at the end of the fiscal year?

a. service revenue

b. accounts payable

c. unearned fees

d. accumulated depreciation

e. all should be closed

if assets increase 120,000 during a given period and retained earnings increase 75,000 during the same period liabilities must

a. decrease 45,000

b. decrease 195,000

c. increase 45, 000

d. increase 195,000