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The Income Summary and Karen Randall, Capital accounts for Randall Printing Company at the end of its accounting period follow. ACCOUNT: Income Summary ACCOUNT NO.
The Income Summary and Karen Randall, Capital accounts for Randall Printing Company at the end of its accounting period follow. ACCOUNT: Income Summary ACCOUNT NO. 399 Balance Date Description Debit Credit Debit Credit Dec. 31 closing 46,500 46,500 31 closing 30,300 16,200 31 Closing 16,200 0 ACCOUNT: Karen Randall, Capital Date Dec. Description Debit Credit ACCOUNT NO. 301 Balance Debit Credit 150,000 166,200 160,200 1 31 31 16, 200 closing Closing 6,000 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 D. Owner's withdrawals
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