If the adjusting entry to transfer Net Income/Owner's Equity into the owner's capital account is made prior to the end of the year, the Balance Sheet shows _______.
A)Owner's Equity
B)Net Income
C)both Net Income and Owner's Equity
D)none of the above because the income/earnings has been transferred into capital

Question

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The Answer of If the adjusting entry to transfer Net Income/Owner's Equity into the owner's capital account is made prior to the end of the year, the Balance Sheet shows _______.
A)Owner's Equity
B)Net Income
C)both Net Income and Owner's Equity
D)none of the above because the income/earnings has been transferred into capital

If the Adjusting Entry to Transfer Net Income/Owner's Equity into the Owner's