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Bob Evans Owns a Business,Beachside Realty,that Rents Condominiums and Furnishings

Question 157

Multiple Choice

Bob Evans owns a business,Beachside Realty,that rents condominiums and furnishings.Below is the adjusted trial balance at December 31,2014.
Bob Evans owns a business,Beachside Realty,that rents condominiums and furnishings.Below is the adjusted trial balance at December 31,2014. The entry required to close the revenue accounts at the end of the period includes a: A) debit to Income Summary for $37,000 B) credit to Income Summary for $38,300 C) debit to Income Summary for $38,200 D) credit to Income Summary for $37,000
The entry required to close the revenue accounts at the end of the period includes a:


A) debit to Income Summary for $37,000
B) credit to Income Summary for $38,300
C) debit to Income Summary for $38,200
D) credit to Income Summary for $37,000

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