Business, 26.02.2021 07:20, maskythegamer

3 Select the correct answer.
Edgar needs to close out $670 in the dividends account at the end of the year. What closing entry will he use?
A.
Income summary (debit) 670; Dividends (credit) 670
OB
Retained earnings (debit) 670; Dividends (credit) 750
Dividends (debit) 670; Income summary (credit) 750
Ο Ο Ο
Revenue (debit) 670; Dividends (credit) 670
E.
Cash (debit) 670; Dividends (credit) 670
Reset
Next

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 20:30, jordaaan101

Agood for which demand increases as income rises is and a good for which demand increases as income falls is

Answers: 1

continue

Business, 22.06.2019 01:30, rhettperkins

Emil motycka is considered an entrepreneur because

Answers: 2

continue

Business, 22.06.2019 16:10, nsheikh2407

Regarding the results of a swot analysis, organizational weaknesses are (a) internal factors that the organization may exploit for a competitive advantage (b) internal factors that the organization needs to fix in order to be competitive (c) mbo skills that should be emphasized (d) skills and capabilities that give an industry advantages problems that a specific industry needs to correct

Answers: 1

continue

Business, 22.06.2019 19:10, kingjustin0825

Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.

Answers: 3

continue

Do you know the correct answer?

3 Select the correct answer.
Edgar needs to close out $670 in the dividends account at the en...