[Answer] Which of the accounts below would be closed by posting a debit to the account?

Answer: fees earned

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Which of the accounts below would be closed by posting a debit to the account? This means that any ( temporary ) account that normally has a credit balance will be closed by posting a debit (and vice-versa). The balance in the prepaid rent account before adjustment at the end of the year is $24 000 which represents four months' rent paid on December 1. The adjusting entry required on December 31 is debit Rent Expense $6 000; credit Prepaid Rent $6 000 The Journal entry to close the Fees Earned $ 750 and Rent Revenue $ 175 accounts on December 31st during the closing process would be: Sun Nov 08 2009 · Which of the accounts below would be closed by posting a debit to the account? A) Fees Earned B ) Rent Expense C ) Unearned Revenue D) Josh Morton Drawing Answer A Dr: Fees Earned Cr: Profit and Loss Summary(also Income Summary) Answer C is incorrect because Unearned Revenue is a liability account it is not close at the end of the accounting period . 111 Which of the accounts below would be closed by posting a debit to the account ? A. Unearned Revenue B. Fees Earned C. Josh Morton Drawing D. Miscellaneous Expense 112. Which of the following accounts should be closed to Income Summary at the end of the fiscal year? ...

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