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The Income Statement Debit Column of the Worksheet Showed the Following

Question 111

Multiple Choice

The income statement debit column of the worksheet showed the following expenses: Supplies Expense $250
Depreciation Expense 175
Salaries Expense 800
The journal entry to close the expense accounts is


A) Income Summary 1,225\quad 1,225
Supplies Expense 250\quad 250
Depreciation Expense 175\quad 175
Salaries Expense 800\quad 800
B) Income Summary 1,225\quad 1,225
Capital 1,225\quad 1,225
C) Supplies Expense 250\quad 250
Depreciation Expense 175\quad 175
Salaries Expense 800\quad 800
Income Summary 1,225\quad 1,225
D) Capital 1,225\quad 1,225
Income Summary 1,225\quad 1,225

Correct Answer:

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