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Home > Business & Careers > Accounting   »   Income Summary/Accounting

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Old Nov 18, 2006, 07:48 PM
wdfisher
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Income Summary/Accounting
What types of summary data are posted to a income summary account?

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Old Nov 18, 2006, 10:46 PM   #2  
CaptainForest
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INCOME SUMMARY

-Income Summary is not a financial statement account
-Income Summary is credited for the total amount of revenues
-Income Summary is debited for the total amount of expenses
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Old Mar 6, 2007, 03:52 AM   #3  
cas123
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Quote:
Originally Posted by wdfisher
What types of summary data are posted to a income summary account?
What kind of data is used in an income summary statement?
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