A company had revenues of $75,000 and expenses of $62,000 for the accounting period. Which of the following entries could not be a closing entry? Income Summary 75,000 Revenues 75,000 Income Summary 62,000 Expenses 62,000 Income Summary 13,000 Retained Earnings 13,000 Revenues 75,000

A company had revenues of $75,000 and expenses of $62,000 for the accounting period. Which of the following entries could not be a closing entry? Income Summary 75,000 Revenues 75,000 Income Summary 62,000 Expenses 62,000 Income Summary 13,000 Retained Earnings 13,000 Revenues 75,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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