At April 1, 2010, Gardner Company Reported a Balance of $22,000

question 60

Essay

At April 1, 2010, Gardner Company reported a balance of $22,000 in the Gardner, Capital account. Gardner Company earned revenues of $50,000 and incurred expenses of $32,000 during April 2010. The company had owner drawings of $10,000 during the month.
(a) Prepare the entries to close Income Summary and the Gardner, Drawing acccount at April 30, 2010.
(b) What is the balance in Gardner, Capital on the April 30, 2010 post-closing trial balance?

Understand how personality can influence behaviors and lifestyles that affect health.

Learn the importance of diagnosing personality disorders and the implications of labeling behaviors as disorders.

Grasp the concept of 'healthy personality' and the components that contribute to it.

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Definitions:

Professional Corporation

A type of business entity authorized by state law that is organized for the purpose of providing professional services, such as legal or medical services.

Shareholders

Individuals or entities that own shares in a corporation, giving them certain rights and interests in the company.

Limited Liability

A legal principle where a person's financial risk in a business is restricted to their investment amount.

Paralegals

Legal assistants who perform various tasks to support attorneys, such as conducting legal research, drafting documents, and organizing files, but are not licensed to practice law.