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    pizano2's Avatar
    pizano2 Posts: 2, Reputation: 1
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    #1

    Sep 30, 2007, 09:26 PM
    Closing Income Summary
    The entry to close Income Summary for a loss would include:

    1. a credit to Income summary
    2. a credit to retained earnings
    3. a debit to capital stock
    4. a debit to Income Summary
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Oct 1, 2007, 10:53 PM
    1. A credit to Income summary
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