The First Two Closing Entries to the Income Summary Account

question 64

Multiple Choice

The first two closing entries to the Income Summary account indicate a debit of $53,000 and a credit of $64,000.The third closing entry would be

• A) debit Capital $11,000;credit Income Summary $11,000.
• B) debit Income Summary $11,000;credit Capital $11,000.
• C) debit Revenue $64,000;credit Expenses $53,000.
• D) debit Income Summary $11,000;credit Drawing $11,000.

Distinguish between photoautotrophs and photoheterotrophs.

Identify solvents suitable for extracting photosynthetic pigments and explain their selection.

Differentiate between cyclic and noncyclic electron transport in photosynthesis.

Explain the differences and similarities between photosynthesis and aerobic respiration.

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