The income statement for the month of June, 2014 of Taylor Enterprises contains the following information: The entry to close the expense accounts includes a
A) debit to Income Summary for ₤3,900.
B) credit to Rent Expense for ₤1,500.
C) credit to Income Summary for ₤4,100.
D) debit to Salaries and Wages Expense for ₤2,000.

Question

The income statement for the month of June, 2014 of Taylor Enterprises contains the following information:  The entry to close the expense accounts includes a
A) debit to Income Summary for ₤3,900. 
B) credit to Rent Expense for ₤1,500. 
C) credit to Income Summary for ₤4,100. 
D) debit to Salaries and Wages Expense for ₤2,000.

Quizplus · Accepted Answer

The Answer of The income statement for the month of June, 2014 of Taylor Enterprises contains the following information:  The entry to close the expense accounts includes a
A) debit to Income Summary for ₤3,900. 
B) credit to Rent Expense for ₤1,500. 
C) credit to Income Summary for ₤4,100. 
D) debit to Salaries and Wages Expense for ₤2,000.

The Income Statement for the Month of June, 2014 of Taylor