Accumulated depreciation shows up on the: Balance sheet in the Property, Plant and also Equipment section.

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


The enattempt to change for the price of gives provided throughout the bookkeeping period is: Debit Supplies Expense; Crmodify Supplies
A company purchases a one-year insurance plan on February 1 for $2,400. The adjusting entry on December 31 is: Delittle Insurance Expense $2,200; Crmodify Prepassist Insurance $2,200
Which of the adhering to accounts need to be closed to the resources account at the end of the year? Service Revenue
Which of the complying with accounts will certainly not be closed to the resources account at the end of the year? Prephelp Insurance
The post-cshedding trial balance differs from the adjusted trial balance in that it does not: Include earnings statement accounts.
Which of the complying with accounts ordinarily appear in the post-cshedding trial balance? Unearned rent or Accumulated Depreciation
Tbelow are two closing entries. The initially one to close _____; the second one to close_____: (first) Revenues and also Expenses(second) the Drawing account
Cshedding entries: is a journal enattempt that is made at the end of an audit duration to transport balances from a short-lived account to a irreversible account.
is a journal enattempt that is made at the finish of an accounting period to carry balances from a short-lived account to a long-term account.
After posting the first cshedding enattempt to the owner"s funding account, the balance will certainly be increased (decreased) by: the net revenue (net loss) for the duration.

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The revenue statement will certainly present: Revenues less costs (ordered biggest to smallest amounts) through miscellaneous costs noted last
Revenues much less costs (ordered biggest to smallest amounts) through assorted prices provided last.
The enattempt to readjust for salaries accrued at the end of the audit period is: Debit Wages Expense; Crmodify Earnings Payable
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