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View Full Version : Where I can Put the income summary?


naanaa77
Feb 27, 2010, 09:13 AM
Where I can put the income summary?

In the Balabnce sheet or income statement?

morgaine300
Feb 28, 2010, 01:20 AM
It's not on any statement. The income summary account is only used in the closing process, which is done after the financial statements are done. The account also just ends up with a zero balance when you're done with closing, and is only used temporarily while doing closing.