Author Question: Which of the following accounts should be closed to J. Bean, Capital, in the fourth closing entry? ... (Read 357 times)

yoooooman · **on:** Jul 6, 2018

Which of the following accounts should be closed to J. Bean, Capital, in the fourth closing entry?
a. Professional Fees
b. J. Bean, Drawing
c. Wages Expense
d. Income Summary
e. Accumulated Depreciation

Question 2

Which financial statement shows the assets, liabilities and stockholders' equity of the firm on a particular date?

a. Statement of stockholders' equity.
b. Statement of cash flows.
c. Earnings statement.
d. Balance sheet.