Question
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
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 | $ 123,000 |
|---|---|
| J. Brendon, Withdrawals | 38,000 |
| Services revenue | 205,000 |
| Depreciation ExpenseEquipment | 13,325 |
| Wages expense | 77,900 |
| Interest expense | 3,700 |
| Insurance expense | 12,900 |
| Rent expense | 26,650 |
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Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
978-1285868806, 1285868803, 978-1305691254, 978-1305465640, 1305465644, 978-1285866307
