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Home Q & A Board Other Fields Homework Help Business Accounting
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upton upton
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7 years ago
M. Smuts showed a net income of $5,000. The entry to close the Income Summary account would include a:
A) debit to M. Smuts Capital, $5,000.
B) credit to M. Smuts Capital, $5,000.
C) debit to Income Summary, $5,000.
D) Both B and C are correct.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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AugustisAugustis
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