Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 20, 2024

Which one of the following is NOT a correct closing entry? a . Debit Retained Eamings; credit Salaries Expense. b . Debit Dividends; credit Retained

Which one of the following is NOT a correct closing entry?

.

Debit Retained Eamings; credit Salaries Expense.

.

Debit Dividends; credit Retained Earnings.

.

All of the above are correct.

.

Debit Service Revenue; credit Retained earnings.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Auditing An International Approach

Authors: Bahram Soltani

1st Edition

9780273657736

More Books

Students also viewed these Accounting questions

Question

★★★★★

Determine working stresses for the two alloys that have the stress?strain behaviors shown in Figures 6.12 and 6.21. 500 70 Tensile strength 450 MPa (65,000 psi) 60 400 50 10 psi 40 MPa 300 40 30 200...

Answered: 1 week ago

Question

★★★★★

A random sample of n = 1483 adults in the US were asked whether they consider a car a necessity or a luxury, and we find that a 95% confidence interval for the proportion saying that it is a...

Answered: 1 week ago

Question

★★★★★

C(Vl'o) c C(l'o). Hint: Show that Show that if MY - MVli is a BLUE of Xj3, then [M - MVI [V{(I - M)Virl V{(J - M)] V = V [M - (J - M)VI [V{(J - M)VI]-1 V{M] . Then multiply on the right by Yo. We...

Answered: 1 week ago

Question

★★★★★

The cash payments and purchases journals for Out of Eden Landscaping Co. are shown below. The accounts payable control account has a June 1, 2012, balance of $2,450, consisting of an amount owed to...

Answered: 1 week ago

Question

★★★★★

yes this is all part of the same question. Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common...

Answered: 1 week ago

Question

★★★★★

Parker Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs, Its standard cost information for last year follows: Parker Plastic had the following actual results for the...

Answered: 1 week ago

Question

★★★★★

Bob Jonas is a single parent who has been divorced for two years and who provides a home for his 10-year old dependent son. What filing status should Bob use? Select one: a. Married Filing Separate...

Answered: 1 week ago

Question

★★★★★

1. A rigid container contains saturated water at a pressure of 2 bar and a quality of 0.64. The water undergoes a process in which it is heated to a final temperature of 540C. Determine the final...

Answered: 1 week ago

Question

★★★★★

You and two other workers witness two trucks collide on a construction site. One driver is injured and requires first aid. You have no training in applying first aid but know there is a trained first...

Answered: 1 week ago

Question

★★★★★

Prepare the income statement for Crystal Bay Company for the most recent year. Us Next question cost of goods sold, cost of goods manutactured, and the amounts below. Assume that the company sold...

Answered: 1 week ago

Question

★★★★★

Trim Corporation acquired 100 percent of Round Corporation's voting common stock on January 1, 20X2, for $416,000. At that date, the book values and fair values of Round's assets and liabilities were...

Answered: 1 week ago

Question

★★★★★

3.52 What is the joint probability of high income and never? Table 3.10 Probabilities for Television Viewing and Income VIEWING FREQUENCY Regular Occasional Never Totals HIGH INCOME MIDDLE INCOME LOW...

Answered: 1 week ago

Question

★★★★★

3.51 An editor may use all, some, or none of three possible strategies to enhance the sales of a book: a. An expensive prepublication promotion b. An expensive cover design c. A bonus for sales...

Answered: 1 week ago

Question

★★★★★

3.47 A stock market analyst claims expertise in picking stocks that will outperform the corresponding industry norms. This analyst is presented with a list of 5 high-technology stocks and a list of 5...

Answered: 1 week ago

Previous Question Next Question