Revenues Total $10,200.Expenses Total $7,300.Withdrawals Total $2,600

question 26

Multiple Choice

Revenues total $10,200.Expenses total $7,300.Withdrawals total $2,600.
-What is the balance in the Income summary account after closing Net income or loss to the Capital account?

• A) Debit balance of $2,900
• B) Credit balance of $300
• C) Credit balance of $2,900
• D) Balance of $0

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Definitions:

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations and resulting in significant territorial changes and millions of casualties.

Asia

The largest continent on Earth, located primarily in the Eastern and Northern Hemispheres, known for its vast diversity in cultures, languages, and environments, housing both the highest and lowest points on the surface of the Earth.

Africa

The second largest continent in the world, known for its vast diversity in cultures, languages, and ecosystems.

Middle East

A geopolitical region centered on Western Asia and Egypt, notable for its historical significance, cultural heritage, and ongoing political and religious complexities.