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3 years ago

The balance in the j. higgins, withdrawals account was. the entry to close the account would include a:

Business

1 answer:

PilotLPTM [1.2K]3 years ago

5 0

The correct answer to this question would be a credit entry.

A withdrawal account has a debit balance throughout the accounting period when the owner makes a withdrawal. At the end of the accounting cycle there needs to be a closing entry made that would zero out the withdrawal account. This entry will be a credit to the withdrawal account and a debit to the capital account. The amount will be the balance in the withdrawal account in order to bring the balance to zero.

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2 years ago

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madam [21]

Answer: See explanation

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2 years ago

[The following information applies to the questions below.]

Zepler [3.9K]

Answer:

The corresponding budgets in column B from which dollar amounts are transferred directly in constructing the budgets listed in Column A are matched in the explanation below

Explanation:

1.) Budgeted Income Statement

E.) Sales Budget

2.) Budgeted Balance Sheet

D.) Payables Budget

3.) Cash Flow Budget

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2 years ago

Answer Quick plz<br><br><br>How would you write $25.08 properly on a check?

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3 years ago

Avon Products, Inc., located in New York City, is one of the world’s largest producers of beauty and related products. The compa

kvv77 [185]

Answer:

a) Accounts Receivable 2015 = $443,000 2014 = $515,600

b) Bad Debt Expense = $144,100

c) Gross sales = $6,083,300

d) Cash collected from Customers = $6,005,000

Explanation:

a and b are given.

c) Gross Sales = $6,076,500 + $6,800 = $6,083,300

d) Cash collected = opening balance in Account receivable + credit Net sales - Bad debt - Closing balance in Accounts Receivables

= $515,600 + $6,076,500 - $144,100 - $443,000

=$6,005,000

4 0

3 years ago

The balance in the j.​ higgins, withdrawals account was. the entry to close the account would include​ a:

The balance in the j. higgins, withdrawals account was. the entry to close the account would include a: