What types of summary data are posted to a income summary account?
What types of summary data are posted to a income summary account?
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
What kind of data is used in an income summary statement?Quote:
Originally Posted by wdfisher
Income summary account comes under which head of account
All times are GMT -7. The time now is 05:28 PM. |