Big-Mouth Frog Corporation had revenues of 210,000, expenses of 120,000, and dividends of 30,000. When Income...
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Big-Mouth Frog Corporation had revenues of €210,000, expenses of €120,000, and dividends of €30,000. When Income Summary is closed to Retained Earnings, the amount of the debit or credit to Retained Earnings is a a. debit of €60,000. b. debit of €90,000. c. credit of €60,000. d. credit of €90,000. Big-Mouth Frog Corporation had revenues of €210,000, expenses of €120,000, and dividends of €30,000. When Income Summary is closed to Retained Earnings, the amount of the debit or credit to Retained Earnings is a a. debit of €60,000. b. debit of €90,000. c. credit of €60,000. d. credit of €90,000.
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Related Book For
Interpreting and Analyzing Financial Statements
ISBN: 978-0132746243
6th edition
Authors: Karen P. Schoenebeck, Mark P. Holtzman
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