The closing entry made for dividends would include:
a. a debit to Dividends and a credit to net income
b. a debit to Retained Earnings and a credit to Dividends
c. a debit to net income and a credit to Dividends
d. a debit to Dividends and a credit to Retained Earnings
Ans: b. a debit to Retained Earnings and a credit to Dividends
Business
You might also like to view...
Input price risk and output price risk are both a form of commodity price risk
Indicate whether the statement is true or false
Business
What is the point at which the supply curve and the demand curve intersect on a graph?
A) Equilibrium price B) Decision point C) Surplus price D) Perfect price E) Parity point
Business