The income statement and balance sheet columns of Pine Company's - 3267

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Request Description

The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals: Income StatementBalance Sheet

Dr.Cr.Dr.Cr.Totals$58,000$48,000$34,000$44,000 Closing entries are necessary for __________.

A.   permanent or real accounts only B.   permanent accounts only C.   both permanent and temporary accounts D.   temporary accounts only 

 
Solution Description

The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals: Income Statement