The Firm Had Net Income If the Entry to Close

question 52

Short Answer

The firm had net income if the entry to close the Income Summary account is recorded as a________ to the owner's capital account.

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Definitions:

Hypertonic

A solution that has a higher concentration of solutes compared to the solute concentration inside the cell, leading to the movement of water out of the cell.

Isotonic

A term applied to solutions that have identical concentrations of solute molecules and hence the same osmotic pressure. Compare with hypertonic and hypotonic.

Vesicle

A small fluid-filled bladder, sac, cyst, or vacuole within the body or a cell.

Plasma Membrane

The semi-permeable membrane surrounding the cytoplasm of a cell, which regulates the passage of substances in and out of the cell.