For the year ended December 31. A company had services revenue of $19,1000 and wages expenses of $114,600,Dividends of $38,200 were paid during the year. Which of the following entries could not be a closing entry? Debit Income Summary $76,400; credit Retained Earnings $76.400 Debit Retained Earnings $38,200: credit Dividends $38,200. > Debit Income Summary $191,000: credit Services Revenue $191,000. Debit Services Revenue $191,000; credit Income Summary $191,000 Debit Income Summary $114,600; credit Wages Expense $114,600.
For the year ended December 31. A company had services revenue of $19,1000 and wages expenses of $114,600,Dividends of $38,200 were paid during the year. Which of the following entries could not be a closing entry? Debit Income Summary $76,400; credit Retained Earnings $76.400 Debit Retained Earnings $38,200: credit Dividends $38,200. > Debit Income Summary $191,000: credit Services Revenue $191,000. Debit Services Revenue $191,000; credit Income Summary $191,000 Debit Income Summary $114,600; credit Wages Expense $114,600.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:For the year ended December 31. A company had
services revenue of $19,1000 and wages expenses
of $114,600,Dividends of $38,200 were paid during
the year. Which of the following entries could not be
a closing entry?
Debit Income Summary $76,400; credit Retained Earnings $76.400
Debit Retained Earnings $38,200: credit Dividends $38,200.
> Debit Income Summary $191,000: credit Services Revenue $191,000.
Debit Services Revenue $191,000; credit Income Summary $191,000
Debit Income Summary $114,600; credit Wages Expense $114,600.
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