Accountıng I Deneme Sınavı Sorusu #1313754
When the revenue accounts and expense accounts are closed and Which of the following their balances were transferred to first?
|
Capital account |
|
Income Summary account |
|
Revenue account |
|
Expense account |
|
Credit account |
Yanıt Açıklaması:
Now that the revenue accounts and expense accounts are closed and their balances were transferred to Income Summary account, the company may easily calculate its profit or loss.
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