Refer to Apples financial statements in Appendix A to answer the following. 1. For the fiscal year

Question:

Refer to Apple’s in Appendix A to answer the following.
1. For the fiscal year ended September 28, 2013, what amount is credited to Income Summary to summarize its revenues earned?
2. For the fiscal year ended September 28, 2013, what amount is debited to Income Summary to summarize its expenses incurred?
3. For the fiscal year ended September 28, 2013, what is the balance of its Income Summary account before it is closed?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...