Which account is not closed out in the closing entries?
Which account is not closed out in the closing entries?
Homework Answers
Unearned revenue account is not closed because it is an asset account which falls under balance sheet and we generally close expenses and revenue accounts.
ANSWER :
3rd Option : Unearned revenues.
Unearned revenues are liabilities and forms the part of balance sheet and hence not closed.
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plz help QUESTION 8 of the accounts shown below, which accounts should be closed in the...
plz help
QUESTION 8 of the accounts shown below, which accounts should be closed in the year-end closing entries? A. Sales Revenue, Salary Expense B. Unearned Revenue, Accounts Receivable, Salary Expense C. Sales Revenue, Accumulated Depreciation D. Sales Revenue, Unearned Revenue
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Question 4 incomplete answer Marked out of 1.00 P Flag question Prepare Closing Entries to Retained Earnings The Century Company's adjusted trial balance contains the following balances as of December 31: Retained Earnings $18,700; Dividends $4,400; Sales $44,000: Cost of Goods Sold $17,600; Selling and Administrative Expenses $6,600; Interest Expense $3.300. Juoddns Prepare the closing entries for The Century Company. Close the temporary accounts straight to retained earnings General Journal Description Debit Credit To close the revenue account Cost of...
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QUESTION 8 of the accounts shown below, which accounts should be closed in the year-end closing entries? A. Sales Revenue, Salary Expense B. Unearned Revenue, Accounts Receivable, Salary Expense C. Sales Revenue, Accumulated Depreciation D. Sales Revenue, Unearned Revenue
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Question 4 incomplete answer Marked out of 1.00 P Flag question Prepare Closing Entries to Retained Earnings The Century Company's adjusted trial balance contains the following balances as of December 31: Retained Earnings $18,700; Dividends $4,400; Sales $44,000: Cost of Goods Sold $17,600; Selling and Administrative Expenses $6,600; Interest Expense $3.300. Juoddns Prepare the closing entries for The Century Company. Close the temporary accounts straight to retained earnings General Journal Description Debit Credit To close the revenue account Cost of...
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