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iris3411 · Apr 15, 2007, 09:35 AM

I figured out that it goes to the Income Statement. The reason there is an income summary acct in the trial balance is because Ending Inventory (on the books) and Ending Inventory (via a hand...

iris3411 · Apr 14, 2007, 06:08 AM

I am doing a 10 column worksheet and I have a credit $ amount in the Income Summary account in the Adjusted Trial Balance. Do I move that to the Income Statement or the Balance Sheet section of the...

iris3411 · Apr 13, 2007, 05:28 AM

Thanks so much. :)

iris3411 · Apr 12, 2007, 10:50 AM

Using the Periodic Inventory method - the end of the period inventory count is 539,930. To adjust the entry do I
Credit Inventory 539,930
Debit Income Summary 539,930?

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Question: Does the Income Summary Balance go to Income Statement

I figured out that it goes to the Income...

Question: Does the Income Summary Balance go to Income Statement

Does the Income Summary Balance go to Income Statement

Question: Inventory Adjusting Entry

Thanks so much. :)

Question: Inventory Adjusting Entry

Inventory Adjusting Entry