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To determine how much should be debited to the Income Summary account when closing expense accounts, we need to look at the amounts of the various expense accounts. These include:
1. Salaries and Wages Expense
2. Insurance Expense
3. Supplies Expense
4. Depreciation Expense
Here's the step-by-step process:
1. Identify the expense accounts and their balances:
- Salaries and Wages Expense: \[tex]$2,100.00 - Insurance Expense: \$[/tex]600.00
- Supplies Expense: \[tex]$800.00 - Depreciation Expense: \$[/tex]250.00
2. Calculate the total amount to be debited to Income Summary:
- Add up all the expense amounts to get the total amount:
[tex]\[ \text{Total Debit to Income Summary} = \text{Salaries and Wages Expense} + \text{Insurance Expense} + \text{Supplies Expense} + \text{Depreciation Expense} \][/tex]
Substituting the values:
[tex]\[ \text{Total Debit to Income Summary} = 2100.00 + 600.00 + 800.00 + 250.00 \][/tex]
3. Perform the addition:
[tex]\[ 2100.00 + 600.00 = 2700.00 \][/tex]
[tex]\[ 2700.00 + 800.00 = 3500.00 \][/tex]
[tex]\[ 3500.00 + 250.00 = 3750.00 \][/tex]
Therefore, the total amount that should be debited to the Income Summary account when closing expense accounts is \$3,750.00.
1. Salaries and Wages Expense
2. Insurance Expense
3. Supplies Expense
4. Depreciation Expense
Here's the step-by-step process:
1. Identify the expense accounts and their balances:
- Salaries and Wages Expense: \[tex]$2,100.00 - Insurance Expense: \$[/tex]600.00
- Supplies Expense: \[tex]$800.00 - Depreciation Expense: \$[/tex]250.00
2. Calculate the total amount to be debited to Income Summary:
- Add up all the expense amounts to get the total amount:
[tex]\[ \text{Total Debit to Income Summary} = \text{Salaries and Wages Expense} + \text{Insurance Expense} + \text{Supplies Expense} + \text{Depreciation Expense} \][/tex]
Substituting the values:
[tex]\[ \text{Total Debit to Income Summary} = 2100.00 + 600.00 + 800.00 + 250.00 \][/tex]
3. Perform the addition:
[tex]\[ 2100.00 + 600.00 = 2700.00 \][/tex]
[tex]\[ 2700.00 + 800.00 = 3500.00 \][/tex]
[tex]\[ 3500.00 + 250.00 = 3750.00 \][/tex]
Therefore, the total amount that should be debited to the Income Summary account when closing expense accounts is \$3,750.00.
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