The Entry to Transfer a Net Loss to the Owner's

question 50

Multiple Choice

The entry to transfer a net loss to the owner's capital account would include a debit to

• A) the owner's capital account and a credit to Cash.
• B) the owner's drawing account and a credit to the owner's capital account.
• C) Income Summary and a credit to the owner's capital account.
• D) the owner's capital account and a credit to Income Summary.

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Definitions:

Categorical Data

Refers to data types that represent categories - they can be names, labels, or numbers that identify into which of several categories each data point falls.

Pivot Tables

A data summarization tool found in data visualization programs such as Excel, which can automatically sort, count, and total the data stored in one table or spreadsheet and create a second table displaying the summarized data.

Large Data Set

A collection of data that is so large and complex that traditional data processing applications are inadequate to deal with them.

Input

Data that is entered into a system or model for processing or analysis.