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    College Accounting
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    Exam 5: The Accounting Cycle Completed
  5. Question
    The Income Summary Account Shows Debits of $19,000 and Credits
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The Income Summary Account Shows Debits of $19,000 and Credits

Question 117

Question 117

Multiple Choice

The Income Summary account shows debits of $19,000 and credits of $10,000.This results in a:


A) net income of $29,000.
B) net loss of $29,000.
C) net income of $9,000.
D) net loss of $9,000.

Correct Answer:

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