Question: Question 2 4 ( 1 point ) The closing entry made for dividends would include: a debit to net income and a credit to Dividends

Question 24(1 point)
The closing entry made for dividends would include:
a debit to net income and a credit to Dividends
a debit to Dividends and a credit to Retained Earnings
a debit to Retained Earnings and a credit to Dividends
a debit to Dividends and a credit to net income
 Question 24(1 point) The closing entry made for dividends would include:

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!