The Balance of the Salaries Expense Account Is $1200

question 19

Multiple Choice

The balance of the salaries expense account is $1200.Which is the correct closing general journal entry?
Debit Credit
$ $

• A)Owner's capital account 1200 Salaries expense 1200
• B)Salaries expense 1200 Profit or loss summary 1200
• C)Salaries expense 1200 Owner's capital account 1200
• D)Profit or loss summary 1200 Salaries expense 1200

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Definitions:

Ingroups

social groups with which an individual identifies and feels a sense of belonging, often in contrast to outgroups, which are those perceived as different or outside.

Outgroups

Groups of people that one does not identify with or belong to, often perceived as different or opposed to one's own group (ingroup).

Discrimination

Unfair treatment of a person or group on the basis of prejudice.

Arabs

A linguistic and cultural ethnic group originating from the Arabian Peninsula and neighboring territories, speaking Arabic as their native language.