The ________ is/are transferred from the income statement to the statement of owner's equity.
A) ending capital
B) withdrawals
C) net income
D) beginning capital
Correct Answer:
Verified
Q133: Table 3-6 Q134: When a prepaid expense is recorded initially Q135: Net income appears on the: Q136: The financial statement that lists the revenue Q137: A prepaid expense recorded initially as an Q139: The concept of accrual accounting is accepted Q140: When an unearned revenue is initially recorded Q141: An asset account is debited when unearned Q142: Lynnwood Services prepaid 24 months of rent Q143: When a prepaid expense is initially recorded
A)balance sheet.
B)income statement.
C)statement
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