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The Income Statement for the Year 2014 of Poole Co

Question 53

Multiple Choice

The income statement for the year 2014 of Poole Co. contains the following information: 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 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.

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