Closing entries may be prepared from all of the following except

A) Income statement and balance sheet columns of the worksheet.

B) Balance sheet.

C) Income and retained earnings statements.

D) Adjusted balances in the ledger.

Question

Armando Jones

Business

27 October, 14:17

Closing entries may be prepared from all of the following except

A) Income statement and balance sheet columns of the worksheet.

B) Balance sheet.

C) Income and retained earnings statements.

D) Adjusted balances in the ledger.

+3

Answers (1)

Know the Answer?

Khalil · Answer 1

The correct answer is B) Balance sheet.

Explanation:

The balance sheet is a statement of a company's financial position at a specific time, such as at the end of the month, quarter or year. The balance sheet shows the assets and lists the responsibilities, creating a statement of what the business owns and owes.

Closing entries may be prepared from all of the following exceptA) Income statement and balance sheet columns of the worksheet.B) Balance sheet.C) Income and retained earnings statements.D) Adjusted balances in the ledger.

Closing entries may be prepared from all of the following except

A) Income statement and balance sheet columns of the worksheet.

B) Balance sheet.

C) Income and retained earnings statements.

D) Adjusted balances in the ledger.