Use this information from the Income Statement columns of the work sheet of Oneida Landscape Service to answer the following question. The entry to close the Laundry Revenue account would be
A) Landscape Revenue 5,000 Income Summary 5,000
B) Income Summary 5,000 Landscape Revenue 5,000
C) Retained Earnings 5,000 Income Summary 5,000
D) Retained Earnings 5,000 Landscape Revenue 5,000

Question

Use this information from the Income Statement columns of the work sheet of Oneida Landscape Service to answer the following question.  The entry to close the Laundry Revenue account would be
A) Landscape Revenue 5,000 Income Summary 5,000 
B) Income Summary 5,000 Landscape Revenue 5,000 
C) Retained Earnings 5,000 Income Summary 5,000 
D) Retained Earnings 5,000 Landscape Revenue 5,000

Quizplus · Accepted Answer

The Answer of Use this information from the Income Statement columns of the work sheet of Oneida Landscape Service to answer the following question.  The entry to close the Laundry Revenue account would be
A) Landscape Revenue 5,000 Income Summary 5,000 
B) Income Summary 5,000 Landscape Revenue 5,000 
C) Retained Earnings 5,000 Income Summary 5,000 
D) Retained Earnings 5,000 Landscape Revenue 5,000

Use This Information from the Income Statement Columns of the Work