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 Retained earnings?
Retained earnings $129,000
Dividends 41,000
Fees earned 215,000
Depreciation Expense-Equipment 13,975
Wages expense 81,700
Interest expense 3900
Insurance expense 13,500
Rent expense 27,950
A. $45,000.
B. $73,975.
C. $32,975.
D. $88,000.
E. $46,950.
Answers: 2
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The following information is available for Brendon Company before closing the accounts. What will be...
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