The Income Statement for the Month of June, 2018 of Camera

question 36

Multiple Choice

The income statement for the month of June, 2018 of Camera Obscura Enterprises contains the following information: $\begin{array}{lr}\text { Revenues }&&\$7,000\\\text { Expenses: }\\\text { Salaries and Wages Expense } & \$ 3,000 \\\text { Rent Expense } & 1,500 \\\text { Advertising Expense } & 800 \\\text { Supplies Expense } & 300 \\\text { Insurance Expense } & 100\\\text { Total expenses }&&5,700\\\text { Net income }&&\$1,300\end{array}$ The entry to close the revenue account includes a

• A) debit to Income Summary for $1,300.
• B) credit to Income Summary for $1,300.
• C) debit to Income Summary for $7,000.
• D) credit to Income Summary for $7,000.

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Definitions:

Fluoroscope

A device consisting of a fluorescent screen in conjunction with an X-ray tube to make visible shadows of objects interposed between the screen and the tube.

Mammogram

An X-ray of the breast.

Discolored

Changed in color in a way that is less attractive or indicates damage or decay.

Breast Tissue

The fibrous, glandular, and fatty tissue that makes up the breasts, essential for milk production and delivery in females.