Income statement for the month of June 2014 of Taylor Enterprises contains the following information: total Revenues £8,000, total expenses £4100, and net Income £3900 The entry to close the revenue account includes a debit to Income Summary for £3,900. credit to Income Summary for £3,900.

Income statement for the month of June 2014 of Taylor Enterprises contains the following information: total Revenues £8,000, total expenses £4100, and net Income £3900 The entry to close the revenue account includes a debit to Income Summary for £3,900. credit to Income Summary for £3,900.

Name: The income statement for themonth of June 2014 of TaylorEnterprises c
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Description: The income statement for themonth of June 2014 of TaylorEnterprises contains the followinginformation: total Revenues£8,000, total expenses £4100, andnet Income £3900The entry to close the revenueaccount includes adebit to Income Summary for£3,900.c

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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