Question
The Income Summary account has a credit balance of $29,000 after the revenue and expense accounts have been closed. Which of the following is to
The Income Summary account has a credit balance of $29,000 after the revenue and expense accounts have been closed. Which of the following is to be credited to close the Income Summary account?
a. dividends
b. sales revenue
c. cost of goods sold
d. owner, capital
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Government Auditing Standards 2011 Revision
Authors: U. S. Government Accountability Office, Comptroller General Of The United States
1st Edition
1482311372, 978-1482311372
