The Income Statement for the Year 2022 of Bugati Co

question 173

Multiple Choice

The income statement for the year 2022 of Bugati Co. contains the following information: $\begin{array}{lr}\text { Revenues }&&\$73,000\\\text { Expenses: }\\\text { Salaries and Wages Expense } & \$ 43,000 \\\text { Rent Expense } & 12,000 \\\text { Advertising Expense } & 11,000 \\\text { Supplies Expense } & 6,000 \\\text { Utilities Expense } & 3,500 \\\text { Insurance Expense } & 4,000 \\\text { Total expenses }&&79,500\\\text { Net income (loss) }&&\$(6,500) \end{array}$ The entry to close the revenue account includes a

• A) debit to Income Summary for $6,500.
• B) credit to Income Summary for $6,500.
• C) debit to Revenues for $73,000.
• D) credit to Revenues for $73,000.

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Definitions:

Sexual Intercourse

A physical activity involving the sexual organs of at least two people, often associated with reproduction and intimacy.

Sexually Compatible

When two individuals have mutual satisfaction and compatibility in their sexual desires, preferences, and practices.

Male-male Friendships

Social relationships between men characterized by companionship, emotional bonds, and mutual support.

Long-term Relationship

A romantic relationship between two individuals that lasts a significant period of time, often characterized by emotional attachment, commitment, and mutual support.