Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. which of these is true about the normal balance of

Which of these is true about the normal balance of an income summary? a. the...

90.2K

Verified Solution

Question

Accounting

Which of these is true about the normal balance of an income summary?

a. the balance is debit?

b. the balance is credit?

c. the account doesn't have a normal balance?

d. it depends on which financial statement it appears.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Type the following table, which has historical world population data, into sheet 2 in rows 1...

Statistics
Q

The following are transactions of Samantha Payapag Advertising Company for the month of July 2013 Prepare Journal Entries, Ledger,...

Accounting
Q

Which argument is most strongly against the incorporation of the 14th Amendment?The incorporation of the...

Biology
Q

A weight is attached to a spring and reaches its equilibrium position x 0 It...

Calculus
Q

Systematic Sampling Question 38 2 points Which sampling method will most likely lead to a...

Algebra
Q

p;ease answer b,c,d The following are partial financial statements for an...

Accounting
Q

2. SFC has outstanding 50,000 shares of noncumulative, 5 percent, $100 par-value preferred stock and...

Accounting
Q

Most fraud investigation utilizes inferential analysis in their examination. The analysis involves the constructing an...

Accounting
Q

A company retired $70 million of its 10% bonds at 101 ($70.7 million) before their...

Accounting
Q

Compute cost of goods sold, assuming Skysong uses: (Round average cost per unit to 2...

Accounting
Q

Companies are required by the SEC to report supplemental operating segment information. a. How is...

Accounting
Q

Which of the following statements is correct for a project with a positive NPV? IRR...

Finance