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Which of the following groups of accounts will have zero balances after the closing process is completed? Allowance for Doubtful Accounts and Uncollectible Accounts Expense Purchases and Purchases Returns and Allowances Merchandise Inventory and Sales Depreciation Expense and Accumulated Depreciation - Equipment
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Not Answered
Updated 10/8/2011 2:38:27 AM
1 Answer/Comment
Purchases and Purchases Returns and Allowances is a group of accounts that will have zero balances after the closing process is completed. ref:
Added 10/8/2011 2:38:27 AM
This answer has been added to the Weegy Knowledgebase
Which of the following groups of accounts will have zero balances after the closing process is completed?Allowance for Doubtful Accounts and Uncollectible Accounts Expense Purchases and Purchases Returns and Allowances Merchandise Inventory and Sales Depreciation Expense and Accumulated Depreciation - Equipment
Question
Updated 7/7/2012 6:22:47 PM
2 Answers/Comments
Purchases and Purchases Returns and Allowances is the group of accounts will have zero balances after the closing process is completed.
Added 10/8/2011 3:07:29 AM
This answer has been added to the Weegy Knowledgebase
Rated bad by bethsands
The correct answer is: Allowance for Doubtful Accounts and Uncollectible Accounts Expense. I am an accounting student and this question was on a quiz. I am 100% positive on the correct answer.



Added 7/7/2012 6:22:47 PM
Rated good by bethsands
The income summary account is a permanent account.
Weegy: It is a temporary account and is one of the closing entries. It is closed off to the owner's capital account or, in corporations, to the retained earnings account. The attached notes are excellent on this topic. (More)
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Expert Answered
Asked 10/8/2011 12:37:51 AM
0 Answers/Comments
Which of the following groups of accounts will have zero balances after the closing process is completed? Allowance for Doubtful Accounts and Uncollectible Accounts Expense Purchases and Purchases Returns and Allowances Merchandise Inventory and Sales Depreciation Expense and Accumulated Depreciation - Equipment
Weegy: Simply solve the equation for P rather than Q Start by adding 0.2P to both sides 0.2P + Q = 100 then subtract Q from both sides 0.2P = 100 - Q then divide both sides by 0.2 and you get P = 500 - 5Q (More)
Question
Expert Answered
Updated 10/8/2011 2:40:36 AM
1 Answer/Comment
Purchases and Purchases Returns and Allowances is the group of accounts will have zero balances after the closing process is completed. ref:
Added 10/8/2011 2:40:36 AM
This answer has been added to the Weegy Knowledgebase
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