A company had revenue of $250,000,rent expense of $10,000,utility expense of $3,500,salary expense of $18,500,depreciation expense of $9,000,advertising expense of $4,500,dividends in the amount of $18,000,and a beginning balance in retained earnings of $17,900.What is the amount in the income summary account before it is closed for the period?
A)$250,000
B)$45,500
C)$204,500
D)$222,400
E)$232,100

Question

Quizplus · Accepted Answer

250,000-10,000-3,500-18,500-9,000-4,500 = 204,500

A Company Had Revenue of $250,000,rent Expense of $10,000,utility Expense