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To which of the following accounts should the balance in the Income Summary account be closed?

H3Ko

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To which of the following accounts should the balance in the Income Summary account be closed?

To which of the following accounts should the balance in the Income Summary account be closed?
A) Service Revenue
B) Net Income
C) Dividends
D) Retained Earnings

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

Read 187 times

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.unplugged.

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H3Ko Author

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#2

7 years ago

YES! Can't believe I got this one right. Appreciate the confirmation

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