- Identifying Accounts to be Closed From the following list, identify the accounts that should be closed to Income Summary at the end of the fiscal year: a. Accounts Payable Not closed to Income Summary b. Accumulated Depreciation Equipment c. Depreciation Expense-Equipment d. Equipment e. Common Stock Not closed to Income Summary Yes, closed to Income Summary f. Dividends g. Fees Earned h. Land i. Supplies j. Supplies Expense k. Wages Expense I. Wages Payable