Acc213 CH1 Closing Entries

Acc213 CH1 Closing Entries

11th - 12th Grade

5 Qs

quiz-placeholder

Similar activities

Practical Math chapter 1 vocab

Practical Math chapter 1 vocab

9th - 12th Grade

9 Qs

Budgeting Vocabulary

Budgeting Vocabulary

9th - 12th Grade

10 Qs

Accounting Basics: Chapter 6

Accounting Basics: Chapter 6

10th - 12th Grade

10 Qs

Covering Your Expenses

Covering Your Expenses

7th - 12th Grade

9 Qs

Sept. 11th Warm-Up

Sept. 11th Warm-Up

9th - 12th Grade

10 Qs

Budgeting

Budgeting

11th - 12th Grade

8 Qs

Laporan Laba Rugi

Laporan Laba Rugi

11th Grade

10 Qs

REVIEW!

REVIEW!

12th Grade

10 Qs

Acc213 CH1 Closing Entries

Acc213 CH1 Closing Entries

Assessment

Quiz

Mathematics

11th - 12th Grade

Medium

Created by

FATIMA Abbas

Used 13+ times

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The closing entry for revenues is:

Dr. Service revenue for BD 29,450

Cr. Income Summary for BD 29,450

Dr. Account receivable for BD 45,400

Cr. Income Summary for BD 45,400

Dr. Income summary for BD 29,450

Cr. Service revenue for BD 29,450

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The Entry to close Expenses is:

Dr. Income summary for BD 11,950

Cr. wages Expense for BD 9,350

Cr. Advertising Expense for BD 2,600

Dr. wages Expense for BD 9,350

Dr. Advertising Expense for BD 2,600

Cr. Capital for BD 11,950

Dr. wages Expense for BD 9,350

Dr. Advertising Expense for BD 2,600

Cr. Income summary for BD 11,950

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The value of income summary after closing revenues and expenses is:

17,500

-17,500

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The entry to close income summary is:

Dr. Capital for BD 17,500

Cr. Income summary for BD 17,500

Dr. Income summary for BD 17,500

Cr. Capital for BD 17,500

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The Entry to close drawings is:

Dr. Capital for BD 103,000

Cr. Drawing for BD 103,000

Dr. Capital for BD 650

Cr. Drawing for BD 650

Dr. Drawing for BD 650

Cr. Capital for BD 650