Question

Okay so can some one help me with an Accounting/Financing questions that i can seem to find the answers to?

One purpose of closing entries is to give zero balances to _______ accounts.
A. asset and liability B. liability and capital c. revenue and expenses D. expense and capital

After the closing entries are posted to the ledger, each expense account will have _____ balance.
A. a debit B. a credit C. either a debit or a credit D. a zero.

That is the first few I need help with. It wonldnt let me type no more ha

Answer 1

I think its C, then D

Answer 2

yea it's C then D :)