Answered

At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Get quick and reliable answers to your questions from a dedicated community of professionals on our platform. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

The closing entry for dividends involves a debit to ______ and a credit to ______. (Select all that apply.)

Sagot :

anthougo

The closing entry for dividends involves a debit to A. Retained Earnings and a credit to Dividends.

What is a closing entry?

A closing entry is the journal entry at the end of the accounting period so that temporary ledger accounts (mainly income statement items) are moved to permanent accounts (balance sheet items).

Answer Options:

A. Retained Earnings; Dividends

B. Dividends; Retained Earnings

C. Dividends; Dividends Payable

D. Dividends Payable; Dividends

Thus, the closing entry for dividends is a debit to Retained Earnings, which is a permanent account, and a credit to Dividends (a temporary account).

Learn more about closing entries at https://brainly.com/question/13408214

Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.