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Which account is not used during the closing process? O Depreciation expense O Retained earnings O Salaries and wages payable O Sales revenue Save for Later

Name: which account is not used during the closing process o depreciation expense o retained earnings o salaries and wages payable o sales revenue save for later 32706
Uploaded: 2024-01-31T22:16:53-08:00
Duration: 1 min 3 s
Channel: Nick Johnson
Description: which account is not used during the closing process o depreciation expense o retained earnings o salaries and wages payable o sales revenue save for later 32706

          Which account is not used during the closing process?
O Depreciation expense
O Retained earnings
O Salaries and wages payable
O Sales revenue
Save for Later

which account is not used during the closing process o depreciation expense o retained earnings o salaries and wages payable o sales revenue save for later 32706

Added by Alejandro L.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Nick Johnson

01/31/2024

Step 1

The closing process in accounting involves transferring the balances of temporary accounts (revenue, expense, and dividend accounts) to permanent accounts (like Retained Earnings) at the end of an accounting period. This resets the temporary accounts to zero for Show more…

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Which account is not used during the closing process? O Depreciation expense O Retained earnings O Salaries and wages payable O Sales revenue Save for Later