The income statement debit column of the worksheet showed the following expenses:
$\begin{array}{|l|r|}
\hline\text { Supplies Expense } & \$ 600 \
\hline \text { Depreciation Expense } & 400 \
\hline \text { Salaries Expense } & 300 \
\hline
\end{array}$
The journal entry to close the expense accounts is:
A) $\begin{array}{|l|l|} \hline \text { Income Summary } & 1,300 \ \hline \text { Supplies Expense } & 600 \ \hline \text { Depreciation Expense } & 400 \ \hline \text { Salaries Expense } &300\\hline \end{array}$
D) $\begin{array}{|l|l|} \hline\text { Capital } & 1,200 \ \hline \text { Income Summary } & 1,200\\hline \end{array}$

Question

The income statement debit column of the worksheet showed the following expenses:
$\begin{array}{|l|r|}
\hline\text { Supplies Expense } & \$ 600 \
\hline \text { Depreciation Expense } & 400 \
\hline \text { Salaries Expense } & 300 \
\hline
\end{array}$
The journal entry to close the expense accounts is:
A) $\begin{array}{|l|l|} \hline \text { Income Summary } & 1,300 \ \hline \text { Supplies Expense } & 600 \ \hline \text { Depreciation Expense } & 400 \ \hline \text { Salaries Expense } &300\\hline \end{array}$ 
D) $\begin{array}{|l|l|} \hline\text { Capital } & 1,200 \ \hline \text { Income Summary } & 1,200\\hline \end{array}$

Quizplus · Accepted Answer

The Answer of The income statement debit column of the worksheet showed the following expenses:
$\begin{array}{|l|r|}
\hline\text { Supplies Expense } & \$ 600 \
\hline \text { Depreciation Expense } & 400 \
\hline \text { Salaries Expense } & 300 \
\hline
\end{array}$
The journal entry to close the expense accounts is:
A) $\begin{array}{|l|l|} \hline \text { Income Summary } & 1,300 \ \hline \text { Supplies Expense } & 600 \ \hline \text { Depreciation Expense } & 400 \ \hline \text { Salaries Expense } &300\\hline \end{array}$ 
D) $\begin{array}{|l|l|} \hline\text { Capital } & 1,200 \ \hline \text { Income Summary } & 1,200\\hline \end{array}$

The Income Statement Debit Column of the Worksheet Showed the Following