J Oros Showed a Net Loss of $3,250

question 70

Multiple Choice

J. Oros showed a net loss of $3,250. The entry to close the Income Summary account would include a

• A) debit to Oros, Capital, $3,250.
• B) debit to Income Summary, $3,250.
• C) credit to Oros, Capital, $3,250.
• D) credit to Cash, $3,250.

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Definitions:

Lewis Dot Structures

Diagrams that show the bonding between atoms of a molecule and the lone pairs of electrons that may exist.

Valence Electrons

The electrons in the outer shell of an atom that are available for forming bonds with other atoms.

B

In the context of the periodic table, "B" stands for Boron, a chemical element with atomic number 5, known for its ability to form covalent bonds.

Si

The chemical symbol for silicon, a hard, brittle crystalline solid used in semiconductors and as a component of various alloys.