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A company had revenues of $75,000 and expenses of $62,000 for the accounting period. The owner withdrew $8,000 in cash d
Posted: Mon May 30, 2022 6:32 am
by answerhappygod
- A Company Had Revenues Of 75 000 And Expenses Of 62 000 For The Accounting Period The Owner Withdrew 8 000 In Cash D 1 (15.98 KiB) Viewed 23 times
A
company had revenues of $75,000 and expenses of $62,000 for the accounting period. The owner withdrew $8,000 in cash during the same period. Which of the following entries could not be a closing entry? Debit Revenues $75,000; credit Income Summary $75,000. Debit Income Summary $62,000, credit Expenses $62,000. O Debit Income Summary $13,000; credit Owner's, Capital $13,000. Debit Income Summary $75,000; credit Revenues $75,000. Debit Owner's, Capital $8,000, credit Owner's, Withdrawals $8,000.