Question: Which account ( s ) would get closed to retained earnings when closing the books: Wage Expense All Liabilities that were created because the company

Which account(s) would get closed to retained earnings when closing the books:
Wage Expense
All Liabilities that were created because the company bought something with a loan.
Sales Revenue
Unearned Revenue
Dividends
All Revenue Accounts
Depreciation expense

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!