【简答题】Indicate in which financial statement each item would most likely appear: income statement (I), balance sheet (B), statement of owner’s equity (E), or statement of cash flows (CF). a. Assets b. Cash f...
【单选题】A company had revenues of $75,000 and expenses of $62,000 for the accounting period. The owner withdrew $8,000 in cash during the same period. Which of the following entries could not be a closing ent...
A.
Debit Income Summary $13,000; credit Owner’s, Capital $13,000
B.
Debit Income Summary $75,000; credit Revenues $75,000.
C.
Debit Revenues $75,000; credit Income Summary $75,000.
D.
Debit Income Summary $62,000, credit Expenses $62,000.
E.
Debit Owner’s, Capital $8,000, credit Owner’s, Withdrawals $8,000.