You are watching: Which of the following accounts will not be closed to income summary at the end of the fiscal year?
Notes Receivable due in 345 days shows up on the: A. balance sheet in the irreversible assets area B. balance sheet in the present assets section C. balance sheet in the current liabilities area D. revenue statement as a revenue
In the bookkeeping cycle, the last action is:A. preparing a post-cshedding trial balance B. preparing the financial statements C. journalizing and also posting the adjusting entries D. journalizing and also posting the cshedding entries
A fiscal year: A. constantly starts on January 1 and also ends on December 31 of the exact same year B. for a organization is identified by the federal federal government C. ordinarily begins on the initially day of a month and also ends on the last day of the adhering to twelfth month D. have to finish at the elevation of the business"s yearly operating cycle
C. ordinarily starts on the initially day of a month and ends on the last day of the complying with twelfth month
Which among the solved asset accounts noted listed below will not have a connected contra ascollection account?A. Land B. Office Equipment C. Building D. Deliextremely Equipment
Which of the adhering to accounts will certainly be closed to the maintained income account at the end of the fiscal year?A. Unearned Fees B. Supplies Expense C. Rent Revenue D. Dividends
Which of the accounts below would be closed by making a credit to the account? A. Supplies Expense B. Accumulated Depreciation C. Rent Revenue D. Unearned Revenue
Which of the complying with accounts will certainly not be closed to Income Summary at the finish of the fiscal year? A. Incomes Expense B. Depreciation Expense C. Fees Earned D. Unearned Rent
Which of the following accounts ordinarily appears in the post-cshedding trial balance? A. Dividends B. Utilities Expense C. Incomes Payable D. Interest Revenue
The enattempt to close the income summary account when tbelow is net earnings at the end of the accounting duration is:A. Delittle bit Income Summary; credit Retained Earnings B. Delittle Dividends; crmodify Income Rundown C. Debit Income Summary; crmodify Dividends D. Debit Retained Earnings; credit Income Summary
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Financial Accounting plus MyAccountingLab through Pearkid eText, Global Edition9th EditionCharles T. Horngren, Wchange T Harrison
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