The following are income and expense items on the adjusted trial balance of NW Company: Account Debit Credit Fees Earned $18,944 Rent Expense 5,500 Wages Expense 6,178 Miscellaneous Expense 340 Which of the following will be included in the first closing entry? a.Debit to Retained Earnings for $18,944 b.Debit to Retained Earnings for $6,926 c.Credit to Retained Earnings for $18,944 d.Credit to Retained Earnings for $6,926

The following are income and expense items on the adjusted trial balance of NW Company: Account Debit Credit Fees Earned $18,944 Rent Expense 5,500 Wages Expense 6,178 Miscellaneous Expense 340 Which of the following will be included in the first closing entry? a.Debit to Retained Earnings for $18,944 b.Debit to Retained Earnings for $6,926 c.Credit to Retained Earnings for $18,944 d.Credit to Retained Earnings for $6,926

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 12PB: The following is the adjusted trial balance data for Elm Connections as of December 31, 2019. A. Use...

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Account	Debit	Credit
Fees Earned		$18,944
Rent Expense	5,500
Wages Expense	6,178
Miscellaneous Expense	340

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