Current liabilities

Current liabilities 1-should not include long-term debt that is expected to be paid within the next year. 2-are obligations that the company is to pay within the forthcoming year. 3-are listed in the balance sheet in order of their expected maturity. 4-are listed in...

In preparing closing entries

In preparing closing entries 1-each expense account will be credited. 2-each revenue account will be credited. 3-the dividends account will be debited if there is net income for the period. 4-the dividends account will be debited. Plagiarism-Free Content Guaranteed We...