Income Summary has a credit balance of $12,000 after closing revenues and expenses. The entry to close Income Summary is credit Income Summary $12,000, debit the Dividends account $12,000. credit Income Summary $12,000, debit the Retained Earnings account $12,000. debit Income Summary $12,000, credit the Retained Earnings account $12,000. debit Income Summary $12,000, credit the Dividends account $12,000.

Question

06-07-2021
Business

Answered

Find trusted answers to your questions with the help of IDNLearn.com's knowledgeable community. Discover detailed answers to your questions with our extensive database of expert knowledge.

Income Summary has a credit balance of $12,000 after closing revenues and expenses. The entry to close Income Summary is credit Income Summary $12,000, debit the Dividends account $12,000. credit Income Summary $12,000, debit the Retained Earnings account $12,000. debit Income Summary $12,000, credit the Retained Earnings account $12,000. debit Income Summary $12,000, credit the Dividends account $12,000.

Sagot :

We value your presence here. Keep sharing knowledge and helping others find the answers they need. This community is the perfect place to learn together. IDNLearn.com provides the answers you need. Thank you for visiting, and see you next time for more valuable insights.

The Terms X,0.5x + 7, And 3x - 1 Are Consecutive Terms Of An Arithmetic Sequence. How Do I Determine The Value Of X And State The Three Terms

What 2d Shapes Make A Cylinder

I'm Confused On This Question: Cran-Soy Trail Mix Costs $2.99 For 5 Ounces, Raisin -Nuts Costs $3.41 For 7 Ounces, Lots Of Cashews Mix Costs $7.04 For 8 Ounces,

What Steps Did Chinese Emperors Take To Reduce Foreign Influence In China? Check All That Apply. They Had No Interest In European Manufactured Goods. They Did N

Sequence The Following Types Of Waves From Lowest Frequency To Highest Frequency: Ultraviolet Rays, Infrared Rays, Gamma Rays, Radio Waves, And Green Light. I'v

Which Of The Following Statements Would NOT Be A Theme In The Call Of The Wild ? A. Always Trust Your Gut B. Only The Strong Survive C. We Are Driven By Our Anc

What Is The Perimeter Of A Square With An Area Of 120

Which Is Greater 16.45 Or 16.454

Nations Establish Trade Barriers Against Other Nations For All Of The Following Reasons Except __________. A. To Discourage Citizens From Buying Imports B. To E

Which Statement Explains Why Most Emigrants From England Came To America In The 1600s? A.They Wanted To Study Native American Cultures. B.They Wanted To Escape