An extract from LIME's pre-closing trial balance for the year ended December 31, 2023, is shown below. The company's net income for the year was $16,250. What is included in the closing entries for LIME's total expenses, assuming the company uses the income summary account?  

Answer rating: 100% (QA)

Based on the information provided the closing entries for LIMEs total expenses would include the fol... View the full answer