I need help finding the answer ACCOUNT: Income SummaryACCOUNT NO. 399BalanceDescriptionClosingClosingClosingDateDebitCreditDebit CreditDec.3148,50048,50017,4003131,10017,40031ACCOUNT: Karen Randall, CapitalACCOUNT NO. 301BalanceDateDescriptionDebitCreditDebit Credit154,000171,400164,600Dec.1ClosingClosing3117,400316,800A. What is the total revenue for the period?B. What is the total expenses for the period?C. What is the net income (loss) for the period?D. What is the owner's withdrawals for the period?A. Total revenueB. Total expensesc. Net incomeD. Owner's withdrawals

All revenues are closed to income summary by debiting the revenue accounts and crediting the income…

ACCOUNT: Income Summary ACCOUNT NO. 399 Balance Description Debit Credit Debit Credit 48,500 17,400 Date Closing Closing Closing Dec. 31 48,500 31 31,100 17,400 31 ACCOUNT: Karen Randall, Capital ACCOUNT NO. 301 Balance Credit Debit Credit Date Description Debit Dec. Closing Closing 154,000 171,400 164,600 31 17,400 31 6,800 A. What is the total revenue for the period? B. What is the total expenses for the period? C. What is the net income (loss) for the period? D. What is the owner's withdrawals for the period? A. Total revenue B. Total expenses c. Net income D. Owner's withdrawals

ACCOUNT: Income Summary ACCOUNT NO. 399 Balance Description Debit Credit Debit Credit 48,500 17,400 Date Closing Closing Closing Dec. 31 48,500 31 31,100 17,400 31 ACCOUNT: Karen Randall, Capital ACCOUNT NO. 301 Balance Credit Debit Credit Date Description Debit Dec. Closing Closing 154,000 171,400 164,600 31 17,400 31 6,800 A. What is the total revenue for the period? B. What is the total expenses for the period? C. What is the net income (loss) for the period? D. What is the owner's withdrawals for the period? A. Total revenue B. Total expenses c. Net income D. Owner's withdrawals

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...

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