15. Which of the following accounts is not closed at the end of the accounting period?...

1. Which of the following types of accounts is closed at the end of an accounting...

1. Which of the following types of accounts is closed at the end of an accounting cycle? A) Dividends B) Assets C) Liabilities D) Common Stock 2. Which of the following statements best describes the balance in a revenue account at the beginning of an accounting period? A) Equal to the amount of retained earnings for the previous period B) Last period's ending balance C) Higher than the previous period’s beginning balance D) Zero
All of the following accounts must be closed at the end of the accounting period except:...

All of the following accounts must be closed at the end of the accounting period except: Service Revenue Unearned (deferred) revenue Dividends Utilities Expense
Closing accounts and the accounting cycle Required a. Identify which of the following accounts are temporary...

Closing accounts and the accounting cycle Required a. Identify which of the following accounts are temporary will be closed to Retained Earnings at the end of the year) and which are permanent: (1) Other Operating Expenses (2) Utilities Expense (3) Retained Earnings (4) Salaries Expense (5) Land (6) Dividends (7) Service Revenue (8) Cash (9) Salaries Payable (10) Common Stock

Which of the following accounts is not closed out at the end of the accounting period?

Which of the following accounts is not closed out at the end of the accounting period?a. Wages Expenseb. Accounts Receivablec. Bank Charges Expensed. Drawings
Which of the following accounts would be closed at the end of the accounting period with...

Which of the following accounts would be closed at the end of the accounting period with a debit? Multiple Choice 0:54:00 Ο Soles Discounts Ο Operating Expenses Ο Sales Returns and Allowances Ο Cost of Goods Sold. Cushman Company had $842,000 in sales, sales discounts of $12,630, sales returns and allowances of $18.945, cost of goods sold of $399,950, and $289,650 in operating expenses. Net income equals.
1. All of the following accounts must be closed at the end of the accounting period...

1. All of the following accounts must be closed at the end of the accounting period except: A) Utilities Expense B) Unearned (deferred) revenue C) Dividends D) Service Revenue 2). Entity F has current assets of $1,600,000 and current liabilities of $750,000. If the company pays a $200,000 account payable what will its new current ratio be? (rounded) A) 1.89:1 B) 2.91:1 C) 2.55:1 D) 1.87:1 3) Entity E purchased land for a warehouse several years ago for $3 million. Although...

1. Which account is closed at the end of an accounting period? Select one: a. Prepaid...

1. Which account is closed at the end of an accounting period? Select one: a. Prepaid Expense b. Sales Discount c. Unearned Revenue d. Retained Earnings 2. At the end of the current year, the Owners' Equity in LaRose Corporation is $188,000. During the year, the assets of the business had decreased by $90,000, and the liabilities had increased by $36,000. Owners' Equity at the beginning of the year must have been: Select one: a. $242,000 b. $314,000 c. $494,000...
Which of these accounts is never closed? Group of answer choices a-Service Fee Revenue b-Retained Earnings...

Which of these accounts is never closed? Group of answer choices a-Service Fee Revenue b-Retained Earnings c-Dividends d- Income Summary On which of the following would the year-end Retained Earnings balance be stated correctly? a-The Worksheet b-Post-Closing Trial Balance c-Unadjusted Trial Balance d-Adjusted Trial Balance
All of the following statements are correct, EXCEPT: a. Temporary accounts are closed at the end...

All of the following statements are correct, EXCEPT: a. Temporary accounts are closed at the end of the accounting period to retained earnings. b. Asset, liability, and stockholders' equity accounts are referred to as permanent accounts. c. Adjusting entries are necessary when cash flow and the economic transaction occur in the same accounting period d. Revenue, expense, and dividend accounts are described as temporary accounts. e. Closing entries prepare accounting records for the next accounting period. At the end of...

After all revenue and expense accounts have been closed at the end of the fiscal year,...

After all revenue and expense accounts have been closed at the end of the fiscal year, Income Summary has a debit of $796,400 and a credit of $939,300. At the same date, Retained Earnings has a credit balance of $1,433,000, and Dividends has a balance of $29,000. Required: A. Journalize the entries required to complete the closing of the accounts on December 31. Refer to the Chart of Accounts for exact wording of account titles. B. Determine the amount of...

15. Which of the following accounts is not closed at the end of the accounting period?...

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1. Which of the following types of accounts is closed at the end of an accounting...

All of the following accounts must be closed at the end of the accounting period except:...

Closing accounts and the accounting cycle Required a. Identify which of the following accounts are temporary...

Which of the following accounts is not closed out at the end of the accounting period?

Which of the following accounts would be closed at the end of the accounting period with...

1. All of the following accounts must be closed at the end of the accounting period...

1. Which account is closed at the end of an accounting period? Select one: a. Prepaid...

Which of these accounts is never closed? Group of answer choices a-Service Fee Revenue b-Retained Earnings...

All of the following statements are correct, EXCEPT: a. Temporary accounts are closed at the end...

After all revenue and expense accounts have been closed at the end of the fiscal year,...

15. Which of the following accounts is not closed at the end of the accounting period?...

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Add Answer to: 15. Which of the following accounts is not closed at the end of the accounting period?...

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