The closing entry for the Salaries Expense account includes a debit to:
A) Salaries Expense and a credit to Retained Earnings.
B) Salaries Expense and a credit to Net Income.
C) Retained Earnings and a credit to Salaries Expense.
D) Net Income and a credit to Salaries Expense.
C
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The property which benefits from an easement is referred to as the:
a. dominant tenement. b. diminutive tenement. c. servient tenement. d. subsistence tenement.
Given a discount rate of 0%, which of the following has the greatest present value? ONE, a series of 10 equal annual end-of-the cash flows of $100 each, TWO, just like ONE except the first 5 cash flows are only $50 but the last 5 cash flows are $150
, or THREE, just like ONE except the 10 $100 cash flows are at the beginning of the period. A) ONE B) TWO C) THREE D) The choices all have equal present values.