Use the Following Account Balances from the Adjusted Trial Balance

question 66

Multiple Choice

Use the following account balances from the adjusted trial balance of Gees Catering:

Select the correct closing entry that Gees Catering would make to close their Income Summary
Account at the end of the accounting period.

• A) R. Gees, Capital $ 19,000 Income Summary $ 19,000
• B) Income Summary $ 9,000 R. Gees, Capital $ 9,000
• C) R. Gees, Capital $ 9,000 Income Summary $ 9,000
• D) Income Summary $ 11,000 R.Gees, Capital $ 11,000

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Definitions:

Shock Hazard

A dangerous condition where an individual could come into contact with an electrical energy source, potentially causing electric shock.

Complete Circuit

A closed circuit in which an electrical current can flow uninterruptedly from the power source through the load and back.

Grounding Prong

The metal prong on a plug designed to connect the electrical device safely to the ground, reducing the risk of electric shock.

Resistance

A measure of the opposition to the flow of electric current, expressed in ohms (Ω).