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

What is the coefficient of y in the expression 12+3y-2x?
if you live 35 miles from work & drive 35 mph how long would it take to get there
A 4.5 newton object is placed in a tank of water. If the water exerts a force of 4.0 newtons on the object, will the object sink or float?
What is the change in number of individuals in a population over time? A. population decrease B. population stability C. population growth D. population resista
The circumference of a circle is 6.28.What is the area of the circle?
What is the coefficient of y in the expression 12+3y-2x?
What is the approximate circumference if the circle that has a center at (2,1) ans passes through the point (2,5). 1. 8 units 2. 13 units 3. 25 units 4. 50 unit
other name for blood
what is the meaning or definition of fighting-gear??
The neolithic revolution is most closely associated with....