iSODREW5586 iSODREW5586
  • 03-10-2017
  • Social Studies
contestada

There are two closing entries. the first one is to close _____; the second one is to close _____.

Respuesta :

andriansp andriansp
  • 10-10-2017
i believe the answer is revenue; expense
Revenue and expense in accounting should be separated from each years of operations (because it is only a temporary account). Which means, that everytime a company enter a new operating year, all the expense and revenue from last year must be closed to avoid confusion.
Answer Link

Otras preguntas

find the number. 0.25 of it is 40
Describe how your job(s) can shape your perceptions and assessments of your overall life satisfaction. Would the age at which you conduct a life review have any
Mia is good with numbers, so 1________ is her favourite subject. When we have an 2________, she always comes first. She’s a 3________! She concentrates in class
PLEASE HELP WILL GIVE BRAINLIEST AND 5.0 RATING
f a person walks 1 Km north, 5 km west south, and 7 km east, find the resultant displacement vector​
solve with steps plz​
Whoever answers first with the correct answer will get brainliest!!!! Question: What does 2+2 equal? Options: A.) 4 B.) fish C.) y
Find the horizontal asymptote of : Pic is at the bottom
i need help branily people
If p/q=q/r then prove that p3+q3+r3=(1/p3+1/q3+1/r3)p2q2r2​