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For some reason when I try closing out the income summary account, it gives me a remaining balance, which is wrong because it should be
For some reason when I try closing out the income summary account, it gives me a remaining balance, which is wrong because it should be zero. Can someone check where I went wrong? I basically need help with closing accounts out.
Kelly Consulting Adjusted Trial Balance May 31, 2016 Debit Balances credit Balances Cash Accounts Receivable Supplies Prepaid Rent Prepaid insurance Office Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Fees Kelly Pitney Capital Kelly Pitney, Drawing Fees Earned Salary Expense 11Ds Rent Expense US Supplies Expense 330 Depreciation Expense i Insurance Expense Miscellaneous Expense Step by Step Solution
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