QuickBooks Pro 2013 14th Edition by Janet Horne

تمرين 22

WRITE THE LETTER OF THE CORRECT ANSWER IN THE SPACE PROVIDED BEFORE THE QUESTION NUMBER.
If the adjusting entry to transfer net income/retained earnings into the owner's capital account is made prior to the end of the year, the Balance Sheet shows _____.
A) Retained Earnings
B) Net Income
C) both Net Income and Retained Earnings
D) none of the above because the income/earnings has been transferred into capital