What Is the Closing Entry for Drawings of $25 000

question 34

Multiple Choice

What is the closing entry for drawings of $25 000?

• A) Debit owner's capital account $25 000; credit drawings $25 000
• B) Debit profit or loss summary account $25 000; credit drawings $25 000
• C) Debit bank $25 000; credit drawings $25 000
• D) None of the above

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Definitions:

Nontraditional Student

A term typically referring to college or university students who do not follow the traditional pathway of entering higher education immediately after high school, often older and possibly balancing other responsibilities such as work or family.

Student Services Hours

The designated hours within which educational institutions provide support services to students, such as counseling, advising, and tutoring.

Faculty to Student Ratio

A metric that measures the number of academic faculty members available per student, indicating the potential for personalized instruction and academic support.

Set Course Schedules

Pre-determined, fixed timetables for academic classes or learning programs.