Answer: c. To reduce the balances of revenue and expense accounts to zero so that they may be used to accumulate the revenues and expenses of the next period.
Explanation:
Closing entries are the journal entries that are made at the end of an accounting period in order to be able to transfer temporary accounts to the permanent accounts.
The primary purpose of closing entries is to reduce the balances of revenue and expense accounts to zero so that they may be used to accumulate the revenues and expenses of the next period.
Therefore, the correct option is C.
Wages because employees receive wages every week
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They dont ask questions about the apartment and its history or whether its close to there job or work place
Answer:
so here correct option is E Depreciation on equipment
Explanation:
given data
no of unit sold = 10000 units
sales decrease = 15%
solution
Depreciation on equipment cost will not change because
Depreciation on equipment is assumed to be fixed in nature
and it is not change with increase or decrease in sales
and all other cost given here is variable in nature and it depend upon sales or an production
so here correct option is E. Depreciation on equipment
Answer: whats the question?
Explanation:
