Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following ists the closing process in the correct order? O A. 1) Income Summary closed to Retained Eamings, 2) Dividends dlosed to

image text in transcribed
Which of the following ists the closing process in the correct order? O A. 1) Income Summary closed to Retained Eamings, 2) Dividends dlosed to Retained Eamings, 3) Revenues closed to Income Summary, 4) Expenses closed to Income Summary O B. 1) Expensen closed to Inome Summary, 2) Revenues closed to income Summary, 3) Income Summary olosed to Ratained Eamings, 4) Dividends dlosed to Retained Eamings O C. 1) Revenues closed to Income Summary, 2) Expenses closed to Income Summary, 3) Income Summary closed to Retained Earnings, 4) Dividends diosed to Retained Eamings D. I Revenues closed to Rota ed Earnings, 2) Exper ses dosed to Retained Earnings 3 income Su ary dosed to Rela ed Eam p 4) owa nas eload to nor e Sun ry

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

The Effect Of The Internal Auditing On Financial Performance

Authors: Shakir Al Ghalayini, Mohammed A. Keshta, Thabet M. Hassan

1st Edition

3656943052, 978-3656943051

More Books

Students also viewed these Accounting questions

Question

What is psychologys historic big issuepg12

Answered: 1 week ago