Dogwood Company Earned Revenues of $19,000 and Incurred Expenses of $7,000.The

question 93

Multiple Choice

Dogwood Company earned revenues of $19,000 and incurred expenses of $7,000.The owner made withdrawals of $3,500.What is the balance in the Income Summary account prior to closing net income or loss to the Owner,Capital account?

• A)debit balance of $12,000
• B)debit balance of $8,500
• C)credit balance of $12,000
• D)credit balance of $19,000

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Definitions:

Cerebellum

A region of the brain at the back of the skull, responsible for coordinating voluntary movements and maintaining posture, balance, and equilibrium.

Motor Movements

Voluntary and involuntary actions produced by the muscles and the nervous system that result in movement of the body or parts of the body.

Diencephalon

A division of the brain lying between the midbrain and the cerebral hemispheres that includes the thalamus, hypothalamus, and third ventricle.

Medulla Oblongata

The medulla oblongata is the lower portion of the brainstem, controlling vital functions such as breathing, heart rate, and blood pressure.