Solved

MSmuts Showed a Net Income of $6,000

Question 85

Multiple Choice

M.Smuts showed a net income of $6,000.The entry to close the Income Summary account would include a:


A) debit to M.Smuts Capital,$6,000.
B) credit to M.Smuts Capital,$6,000.
C) debit to Income Summary,$6,000.
D) Both B and C are correct.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions