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    harley1987's Avatar
    harley1987 Posts: 1, Reputation: 1
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    #1

    Feb 26, 2008, 08:40 AM
    The accounting work sheet
    Does income summary go on the income statement or the balance sheet
    MaggieMouse's Avatar
    MaggieMouse Posts: 226, Reputation: 8
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    #2

    Feb 26, 2008, 09:33 AM
    Income summary is the temporary account to hold all the income statement account prior to the creation of income statement. It is a step to zero out all the income statement accounts.
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