Income Summary,before Closing to Capital,contains a Debit Balance of $110

question 106

Multiple Choice

Income Summary,before closing to Capital,contains a debit balance of $110 and a credit balance of $200.What is the entry to close Income Summary to Capital?

• A)Debit Income Summary $100;credit Capital $200
• B)Debit Income Summary $86;credit Capital $110
• C)Debit Capital $90;credit Income Summary $90
• D)Debit Income Summary $90;credit Capital $90

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Definitions:

Abstract Sense

Pertaining to concepts that are not concrete or tangible but can be understood intellectually or emotionally.

Authoritative Parenting

A parenting style characterized by a high level of demand and responsiveness, where parents set clear standards and limits but are also supportive and responsive to their children's needs.

Permissive

Describing an approach or policy that allows or tolerates behaviors that might be disallowed or controlled in other contexts; often used in reference to parenting or governance styles.

Authoritarian

A leadership or parenting style characterized by strict rules, high demands, and little warmth or feedback given to subordinates or children.