Which of the following accounts is not closed to the Income Summary at the end of the accounting period? (More than one answer may be correct).
A) Rent expense.
B) Accumulated Depreciation.
C) Unearned Revenue.
D) Supplies Expense.

Question

Quizplus · Accepted Answer

Accumulated Depreciation is a contra asset account and is not closed to the income summary at the end of the accounting period. The other accounts (Rent expense, Unearned Revenue, and Supplies Expense) are all expense or liability accounts that are closed to the income summary at the end of the period.

Which of the Following Accounts Is Not Closed to the Income