If sales are $270,000,expenses are $220,000 and dividends are $30,000,Income Summary:
A) Will have a credit balance of $50,000.
B) Will have a debit balance of $50,000.
C) Will have a debit balance of $20,000.
D) Will have a credit balance of $20,000.
Correct Answer:
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Q77: Net income for the period equals:
A)$18,375.
B)$11,000.
C)$ 5,800.
D)$11,250.
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C)$21,920.
D)$23,360.
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