The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information: The entry to close the expense accounts includes a
A)debit to Income Summary for $1,300.
B)credit to Rent Expense for $1,500.
C)credit to Income Summary for $5,700.
D)debit to Salaries and Wages Expense for $3,000.

Question

The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information:  The entry to close the expense accounts includes a
A)debit to Income Summary for $1,300. 
B)credit to Rent Expense for $1,500. 
C)credit to Income Summary for $5,700. 
D)debit to Salaries and Wages Expense for $3,000.

Quizplus · Accepted Answer

The Answer of The income statement for the month of June, 2015 of Camera Obscura Enterprises contains the following information:  The entry to close the expense accounts includes a
A)debit to Income Summary for $1,300. 
B)credit to Rent Expense for $1,500. 
C)credit to Income Summary for $5,700. 
D)debit to Salaries and Wages Expense for $3,000.

The Income Statement for the Month of June, 2015 of Camera