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The Income Statement for the Month of June, 2010 of Ramirez

Question 131

Multiple Choice

The income statement for the month of June, 2010 of Ramirez Enterprises contains the following information: The income statement for the month of June, 2010 of Ramirez Enterprises contains the following information: After the revenue and expense accounts have been closed, the balance in Income Summary will be A) $0. B) a debit balance of $3,400. C) a credit balance of $3,400. D) a credit balance of $7,000. After the revenue and expense accounts have been closed, the balance in Income Summary will be


A) $0.
B) a debit balance of $3,400.
C) a credit balance of $3,400.
D) a credit balance of $7,000.

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