How is net income closed? Is the closing entry the same for other comprehensive income? Explain.

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Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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Question Posted: Jul 19, 2016 05:48 AM

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How is net income closed? Is the closing entry the same for other comprehensive income? Explain.

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Net income is closed to retained earnings Other compre...View the full answer

Intermediate Accounting

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