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Two types of closing journal entries are posted to retained earnings a.docx
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Two types of closing journal entries are posted to retained earnings at year-end. These are entries to: (A) transfer assets and liabilities to retained earnings. (b) close permanent and temporary accounts. (c) transfer net income (or loss) and dividends declared to retained earnings. (d) transfer revenues and expenses to retained earnings. Solution c) transfer net income (or loss) and dividends declared to retained earnings. .
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Two types of closing journal entries are posted to retained earnings a.docx
- Two types of closing journal entries are posted to retained earnings at year-end. These are entries to: (A) transfer assets and liabilities to retained earnings. (b) close permanent and temporary accounts. (c) transfer net income (or loss) and dividends declared to retained earnings. (d) transfer revenues and expenses to retained earnings. transfer assets and liabilities to retained earnings. (b) close permanent and temporary accounts. (c) transfer net income (or loss) and dividends declared to retained earnings. (d) transfer revenues and expenses to retained earnings. Solution c) transfer net income (or loss) and dividends declared to retained earnings.
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