The income statement for the year 2014 of Poole Co. contains the following information: The entry to close the expense accounts includes a
A) debit to Income Summary for $2,500.
B) credit to Income Summary for $2,500.
C) debit to Income Summary for $77,500.
D) debit to Salaries and Wages Expense for $45,000.

Question

The income statement for the year 2014 of Poole Co. contains the following information:  The entry to close the expense accounts includes a
A) debit to Income Summary for $2,500. 
B) credit to Income Summary for $2,500. 
C) debit to Income Summary for $77,500. 
D) debit to Salaries and Wages Expense for $45,000.

Quizplus · Accepted Answer

The Answer of The income statement for the year 2014 of Poole Co. contains the following information:  The entry to close the expense accounts includes a
A) debit to Income Summary for $2,500. 
B) credit to Income Summary for $2,500. 
C) debit to Income Summary for $77,500. 
D) debit to Salaries and Wages Expense for $45,000.

The Income Statement for the Year 2014 of Poole Co