Sales revenue A partial listing of a company's accounts are listed below: $190,000 Depreciation expense $20,000 COGS $84,000 Rent expense $8,000 Cash $1,000 Unearned revenue $2,000 Building $200,000 Wage expense $30,000 Accumulated depreciation $44,000 Interest expense $3,000 Note payable $50,000 Service revenue $60,000 Dividends $4,000 Goodwill $7,000 The closing entry to close the Income Summary would include a debit to Income Summary for: A. $101,000 B. $122,000 C. $105,000 D. $ 77,000

Sales revenue A partial listing of a company's accounts are listed below: $190,000 Depreciation expense $20,000 COGS $84,000 Rent expense $8,000 Cash $1,000 Unearned revenue $2,000 Building $200,000 Wage expense $30,000 Accumulated depreciation $44,000 Interest expense $3,000 Note payable $50,000 Service revenue $60,000 Dividends $4,000 Goodwill $7,000 The closing entry to close the Income Summary would include a debit to Income Summary for: A. $101,000 B. $122,000 C. $105,000 D. $ 77,000

Fundamentals of Financial Management (MindTap Course List)

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...

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Need help with this question solution general accounting
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