If a business had a net loss for the year, what would be the closing entry to

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If a business had a net loss for the year, what would be the closing entry to close Income Summary and transfer the net loss to the Retained Earnings account?

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Horngrens Financial and Managerial Accounting

ISBN: 978-0133255584

4th Edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Question Posted: Apr 03, 2015 09:43 AM

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If a business had a net loss for the year, what would be the closing entry to

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Horngrens Financial and Managerial Accounting

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