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

question 99

Multiple Choice

The income statement for the month of June, 2018 of Camera Obscura Enterprises contains the following information: $\begin{array}{lr}\text { Revenues }&&\$7,000\\\text { Expenses: }\\\text { Salaries and Wages Expense } & \$ 3,000 \\\text { Rent Expense } & 1,500 \\\text { Advertising Expense } & 800 \\\text { Supplies Expense } & 300 \\\text { Insurance Expense } & 100\\\text { Total expenses }&&5,700\\\text { Net income }&&\$1,300\end{array}$ After the revenue and expense accounts have been closed, the balance in Income Summary will be

• A) $0.
• B) a debit balance of $1,300.
• C) a credit balance of $1,300.
• D) a credit balance of $7,000.

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Definitions:

Primary Structure

The sequence of amino acids in a protein, which determines its three-dimensional shape and function.

Denaturation

The process by which a protein loses its three-dimensional structure and biological activity due to external stress or conditions, such as heat or acidic pH.

Three-Dimensional

Having or appearing to have length, breadth, and depth.

Amino Acid

Organic molecules that serve as the building blocks of proteins, containing both amino and carboxylic acid functional groups.