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Acc213- Unit 1 / Closing entries

Quiz by sara musameh

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6 questions
Show answers
  • Q1
    All of above are Temporary accounts except
    Revenue
    Liabilities
    Drawing
    Expense
    30s
  • Q2
    To normal balance of Revenue is
    debit
    credit
    30s
  • Q3
    you have to close the drawing with
    income summary
    expense
    revenue
    capital
    30s
  • Q4
    if the company have more than one expense to close you should ......... to register the income summary
    multiplied
    less
    add
    30s
  • Q5
    Depreciation expense account is classified as:
    Permanent accony
    Temporary account
    30s
  • Q6
    The entry to close Revenue section is:
    Dr. Rent received 25600 / Cr. Income summary 25600
    Dr. Cash 25600 / Cr. rent received 25600
    30s

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