17mbenzer 17mbenzer
  • 02-04-2020
  • Business
contestada

How do you prepare closing entries in accounting

Respuesta :

alex051442 alex051442
  • 02-04-2020
like really dont know the answer to this but I wish u luck
Answer Link
Kekebad578
Kekebad578 Kekebad578
  • 02-04-2020
The answer is:

Close all income accounts to Income Summary.
Close all expense accounts to Income Summary.
Close Income Summary to the appropriate capital account.
Close withdrawals to the capital account/s (this step is for sole proprietorship and partnership only)
Answer Link

Otras preguntas

A farmer hauled in 120 bales of hay. Each of his cows ate 1 1/4 bales. How many cows the farmer feed?
If 8 men can chop down 28 trees in one day, how many trees can 20 men chop down in one day?
Find the value of x.  Round to nearest hundredth if necessary.
which factor made the most difference in how agriculture affected the economies of the colonies?
If 8 men can chop down 28 trees in one day, how many trees can 20 men chop down in one day?
Does every point lie in a quadrant?
which factor made the most difference in how agriculture affected the economies of the colonies?
which factor made the most difference in how agriculture affected the economies of the colonies?
which state of matter has the least amount of energy?
Can somoene help me with this question??How might the history of the U.S. have been different if the original thirteen states had been guaranteed a perpetual ma