a merchandiser has four closing journal entries at the end of an accounting cycle. select the correct entries below. (check all that apply.)multiple select question.close revenue accounts.close expense accounts.close the income summary account.close the withdrawals account.close the merchandise inventory account.close asset accounts.

Question

21-10-2022
Business

Answered

a merchandiser has four closing journal entries at the end of an accounting cycle. select the correct entries below. (check all that apply.)multiple select question.close revenue accounts.close expense accounts.close the income summary account.close the withdrawals account.close the merchandise inventory account.close asset accounts.

Answer :

Other Questions

select all that apply lina co. uses the allowance method to account for bad debts. on january 28, lina determines that a $200 balance from zrt, inc. is uncollec

select all that apply p. jameson co. sold $500 of merchandise on master card credit sales. the net cash receipts from the sale are immediately deposited in the

elect all that apply p. jameson co. sold $500 of merchandise on master card credit sales. the net cash receipts from the sale are immediately deposited in the s

question mode multiple choice question flash co. uses the allowance method to account for bad debts. at the end of 2010, flash co.'s unadjusted trial balance sh

multiple choice question flash co. uses the allowance method to account for bad debts. at the end of the year, flash co.'s unadjusted trial balance shows an acc

. first, complete the table below to calculate the interest amount at december 31, year 1.1-b. use the calculated value to prepare your journal entries for year

the main reason an accountant would conduct a trial balance is to multiple choice verify the validity of last year's balance sheet before beginning the next acc

febyyyvaalentina febyyyvaalentina · Answer 1 · 2022-10-24T09:52:41-04:00

Close revenue accounts.
Close expense accounts.
Close the income summary account.
Close the dividends account.

Closing journal is one part of the financial statements that will be prepared at the end of the accounting period. This part of the financial statements is used to close nominal accounts to prepare the period-end balance sheet.

Closing entries are made at the end of the accounting period after the company's financial statements are prepared. This journal needs to be made because there are accounts whose balances must still be adjusted to zero, so as not to affect transactions for the next period. The preparation of this closing journal is adjusted to the form of the company, whether CV, firm, or PT. The preparation of this flexible closing journal aims to make it easier for interested parties to study it.

You can learn more about Closing journal here brainly.com/question/28764701

#SPJ4