A Company Has the Following Adjusted Trial Balance: Which

question 159

Multiple Choice

A company has the following adjusted trial balance: Which closing entry is needed?

• A)Debit Service Revenue for $33,200 and credit Retained Earnings for $33,200
• B)Debit Rent Expense for $1400 and credit Retained Earnings for $1400
• C)Credit Retained Earnings for $1800 and debit Cash for $1800
• D)Debit Dividends for $1000 and credit Retained Earnings for $1000

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Definitions:

Interior Decorator

A professional who specializes in designing and arranging the inside spaces of homes and buildings to enhance aesthetics and functionality.

Bookcases

Furniture designed to store and display books, typically consisting of horizontal shelves.

Supplier-customer Combinations

Various possible pairings or relationships between suppliers and customers in a market or supply chain.

Mutually Exclusive

Events that cannot happen simultaneously.