An expenses account is closed by a debit to
...An expenses account is closed by a debit to
An asset account and a credit to the expenses account
The expenses account and a credit to an asset account
Profit and loss account and a credit to the expenses account
The expenses account and a credit to profit and loss account
Correct answer is C
No explanation has been provided for this answer.
Where partners maintain a fluctuating capital account, partners' share of profit is credited to ...
The control account is used in facilitating? ...
In a sales ledger, contra entry is found on the? ...
Which of the following errors will affect the totals of a trial balance? ...
Use the following to answer the given question UCHENNA ENTERPRISES: Balance sheet as at 31st De...
The net profit or loss for the year is determined in profit and loss account after ...
Final accounts of a not-for-profit making organization is made up of ...