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Author Question: Assets are decreased with debit entries. Indicate whether the statement is true or ... (Read 105 times)

TFauchery

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on: Jul 5, 2018
Assets are decreased with debit entries.
 
  Indicate whether the statement is true or false

Question 2

What is the correct sequence for closing the temporary accounts?
 a. revenue accounts, expense accounts, Income Summary, drawing account
   b. expense accounts, revenue accounts, Income Summary, drawing account
   c. revenue accounts, expense accounts, drawing account, Income Summary
   d. drawing account, revenue accounts, expense accounts, Income Summary


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Missbam101

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Reply #1 on: Jul 5, 2018
Answer to Question 1

FALSE

Answer to Question 2

a


TFauchery

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Reply #2 on: Jul 5, 2018
Correct answers!


Missbam101

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Reply #3 on: Jul 5, 2018
Great! Please up vote :D


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