When Transferring Net Income to Capital, You Debit in a Journal

question 27

Short Answer

When transferring Net Income to Capital, you debit in a Journal entry.

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Definitions:

Mean

The arithmetic average of a set of numbers, calculated by adding them together and dividing by the count of the numbers.

Z-score

A numerical metric indicating how a specific value compares to the average of a dataset, expressed by the number of standard deviations away from that average.

Standard Deviation

An indicator of the spread or variability within a data set; where a small standard deviation indicates values closely clustered around the average, and a large standard deviation suggests they are widely scattered.

Z-score

A statistical measure that describes a value's position relative to the mean of a group of values, expressed in units of standard deviation.