M Sims Showed a Net Income of $8,000

question 87

Multiple Choice

M. Sims showed a net income of $8,000. The entry to close the Income Summary account would include a:

• A) debit to M. Sims Capital, $8,000.
• B) credit to M. Sims Capital, $8,000.
• C) debit to Income Summary, $8,000.
• D) Both B and C are correct.

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Definitions:

Stroma

The supportive tissue of an epithelial organ, tumor, gonad, etc., consisting of connective tissues and blood vessels, or the dense fluid found inside the chloroplasts of plant cells.

Thylakoid Compartment

The thylakoid compartment is a space within the chloroplasts of plant cells, surrounded by thylakoid membranes, where the light-dependent reactions of photosynthesis occur.

Electron Transport Chain

A series of complexes that transfer electrons from electron donors to electron acceptors via redox reactions and couples this electron transfer with the transfer of protons (H+ ions) across a membrane.

Thylakoid Membrane

A membrane-bound compartment inside chloroplasts and cyanobacteria, the site of the light-dependent reactions of photosynthesis.