Is the account Income Summary on the Income statement at all? If so what section? I have

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Is the account “Income Summary” on the Income statement at all? If so what section?

I have $30,000 debt for “Income Summary” on my adjusted trial balance, and I’m currently preparing my Income Statement

Related Book For answer-question

Interpreting and Analyzing Financial Statements

ISBN: 978-0132746243

6th edition

Authors: Karen P. Schoenebeck, Mark P. Holtzman

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Posted Date: Feb 24, 2024 07:22 AM

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Is the account Income Summary on the Income statement at all? If so what section? I have

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Expert Answer:

The Income Summary account is not typically found on the income statement Instead its a ... View the full answer

Interpreting and Analyzing Financial Statements

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