The income statement for the year 2010 of Poole Co. contains the following information: The entry to close the expense accounts includes a
A) debit to Income Summary for $3,500.
B) credit to Income Summary for $3,500.
C) debit to Income Summary for $73,500.
D) debit to Wages Expense for $2,500.

Question

The income statement for the year 2010 of Poole Co. contains the following information:  The entry to close the expense accounts includes a
A) debit to Income Summary for $3,500. 
B) credit to Income Summary for $3,500. 
C) debit to Income Summary for $73,500. 
D) debit to Wages Expense for $2,500.

Quizplus · Accepted Answer

The Answer of The income statement for the year 2010 of Poole Co. contains the following information:  The entry to close the expense accounts includes a
A) debit to Income Summary for $3,500. 
B) credit to Income Summary for $3,500. 
C) debit to Income Summary for $73,500. 
D) debit to Wages Expense for $2,500.

The Income Statement for the Year 2010 of Poole Co