Dogwood Company earned revenues of $19,000 and incurred expenses


Question Description:

24.99

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

Answer

24.99