The following information is available for Brendon Company before closing the accounts. What will be the amount in the Income Summary account that should be closed to Brendon, Capital? J. Brendon, Capital J. Brendon, Withdrawals Services revenue Depreciation Expense-Equipment Wages expense Interest expense Insurance expense Rent expense Multiple Choice $48,000. $34,325. $84,325. $97,000. $ 147,000 50,000 245,000 15,925 93,100 4,500 15,300 31,850

The following information is available for Brendon Company before closing the accounts. What will be the amount in the Income Summary account that should be closed to Brendon, Capital? J. Brendon, Capital J. Brendon, Withdrawals Services revenue Depreciation Expense-Equipment Wages expense Interest expense Insurance expense Rent expense Multiple Choice $48,000. $34,325. $84,325. $97,000. $ 147,000 50,000 245,000 15,925 93,100 4,500 15,300 31,850

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....

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