At the End of the Accounting Period,but Before Closing Entries

question 107

Multiple Choice

At the end of the accounting period,but before closing entries are made,Harry,the proprietor of Harry's Bar and Grill,has a debit of $24,500 in his drawing account and a credit of $126,800 in his capital account.If his capital account has a credit balance of $137,900 after the closing,what was his net income?

• A)$11,100
• B)$35,600
• C)$113,400
• D)$13,400

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