[The Following Information Applies to the Questions Displayed Below

question 124

Multiple Choice

[The following information applies to the questions displayed below.]
Shown below is the adjusted Trial Balance for Simon Inc. ,on December 31,after the first year of operations,after adjusting entries:

-The entry to close the Service Fees Earned account will:

• A)Produce a zero balance in that account when posted.
• B)Include a debit to Income Summary.
• C)Include a credit to Service Fees Earned.
• D)Include a debit to Capital Stock.

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Definitions:

Mourning

The process and expression of grief following the death of a loved one, often including rituals and practices varying across cultures and religions.

Prescribed

Recommended or authorized by a medical professional or by law, often referring to medication or certain courses of action.

Culture

The accumulated habits, beliefs, customs, arts, and institutions shared by a group of people, which shape their collective identity and behavior.

Embalmed

The process of preserving a dead body to delay decomposition, typically involving the use of chemicals.