Why is the Dividends account closed directly to Retained Earnings rather than to the Income Summary account?

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Financial Accounting The Impact on Decision Makers

ISBN: 978-1285182964

9th edition

Authors: Gary A. Porter, Curtis L. Norton

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Question Posted: Aug 24, 2018 06:15 AM

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Why is the Dividends account closed directly to Retained Earnings rather than to the Income Summary account?

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Financial Accounting The Impact on Decision Makers

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