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The Income Statement for the Month of June, 2014 of Taylor

Question 104

Multiple Choice

The income statement for the month of June, 2014 of Taylor Enterprises contains the following information: The income statement for the month of June, 2014 of Taylor Enterprises contains the following information: The entry to close Income Summary to Retained Earnings includes A) a debit to Revenue for ₤8,000. B) credits to Expenses totalling ₤4,100. C) a credit to Income Summary for ₤3,900 D) a credit to Retained Earnings for ₤3,900. The entry to close Income Summary to Retained Earnings includes


A) a debit to Revenue for ₤8,000.
B) credits to Expenses totalling ₤4,100.
C) a credit to Income Summary for ₤3,900
D) a credit to Retained Earnings for ₤3,900.

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