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mote1985 [20]
2 years ago
9

The journal entry required to close the Drawing account is _____. a debit to Income Summary account and a credit to Drawing acco

unt a debit to Capital account and a credit to Drawing account a debit to Capital account and a credit to Cash account None of these choices are correct.
Business
1 answer:
Alex_Xolod [135]2 years ago
8 0

The journal entry required to close the Drawing account is debit to Income Summary account and a credit to Drawing account.

Option a) is correct.

<h2>What is  Income Summary account ?</h2>

An income summary is a temporary account that is used to net the closing entries from all the revenue and expense accounts at the conclusion of the accounting quarter. The final balance is regarded as a gain or loss. The company made a profit for that year if the net balance of the income summary is a credit balance, and a loss for that year if the net balance is a debit balance.

It lists all earnings and costs related to both operational and non-operating operations. It is also known as a revenue and expense summary as a result.

Learn more about Income summary Accounts here:

brainly.com/question/21851842

#SPJ4

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Getting the listener’s full attention, questioning him or her, and asking him or her to paraphrase the message are all technique
timama [110]

Answer:

poor listening

Explanation:

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3 0
3 years ago
Which of the following should you do during an interview
stepladder [879]
Hey there!

The correct answer to your question is option A.

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5 0
3 years ago
When a scientific number is the result of a measurement using equipment such as a balance, the last digit is ______?
zhuklara [117]
The answer is <span>the last digit is "estimated".
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5 0
3 years ago
Which of the following statements is accurate?A. Firms that engage in ethical practices are always socially responsible. B. To a
vesna_86 [32]

Answer:

(C) Socially responsible firms automatically engage in ethical practices.

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6 0
3 years ago
This problem has been solved!
velikii [3]

hey there!:

1)

a) Amount of credit the company would receive against the FUTA tax for its SUTA contributions = 2896.21

(56900*3.1%*90%)+(56900*(5.4%-3.1%)) = 2896.21

b)  Amount that Peroni Company would pay to the federal government for its FUTA tax = 517.79

(56900*6%)-2896.21 = 517.79

c) Amount that the company lost because of its late payments = 176.39

=517.79-(3414-1763.9-1308.7) = 176.39

Hope that helps!

4 0
3 years ago
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