An account that will have a zero balance after closing entries have been

An account that will have a zero balance after

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11.An account that will have a zero balance after closing entries have been journalized and posted isA.Service Revenue.B.Supplies.C.Prepaid Insurance.D.Accumulated Depreciation.Correct! The Service Revenue account will have a zero balance after closing entries have been journalized and posted because it is an income statement or temporary account.12.When a net loss has occurred, Income Summary is13.The closing process involves separate entries to close (1) expenses, (2) dividends,(3) revenues, and (4) income summary. The correct sequencing of the entries is
14.Which of the following accounts is not closed?15.Companies generally prepare closing entries directly from theA.adjusted balances in the ledger.B.income statement columns of the worksheet.C.income statement.D.trial balance columns of the worksheet.Correct! Companies generally prepare closing entries directly from the adjusted balances in the ledger.16.Rider Company is in the process of preparing it closing entries. It first closes its revenue accounts by crediting the Income Summary account for $68,000 and then, closes its expense accounts by debiting the Income Summary account for $45,000. The entry to then close the Income Summary account is

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