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Other Fields Homework Help Accounting Topic started by: majestico on Jun 6, 2017



Title: When the balance of the Income Summary account is a credit, the entry to close this account is:
Post by: majestico on Jun 6, 2017
When the balance of the Income Summary account is a credit, the entry to close this account is:
A) debit Income Summary; credit Capital.
B) debit Income Summary; credit Revenue.
C) debit Revenue; credit Income Summary.
D) debit Withdrawals; credit Income Summary.


Title: Re: When the balance of the Income Summary account is a credit, the entry to close this account ...
Post by: Ompa on Jun 6, 2017
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