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Author Question: Which of the following transactions could cause the Income Summary to be debited and Capital to be credited? (Read 87 times)

V@ndy87

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on: Nov 11, 2019
Which of the following transactions could cause the Income Summary to be debited and Capital to be credited?
◦ Closed the Owner's Capital account
◦ The business earned a net loss for the period.
◦ The business earned a net income for the period.
◦ None of these are correct.
College Accounting: A Practical Approach ¦ Slater, Zwicker ¦ 12th Edition
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Marked as best answer by V@ndy87 on Nov 11, 2019

abro1885

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Reply #1 on: Nov 11, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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V@ndy87

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Reply 2 on: Nov 11, 2019
Great answer, keep it coming :)

bitingbit

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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