The balance in the Profit and Loss Summary account before it is closed represents:

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The balance in the Profit and Loss Summary account before it is closed represents the profit or loss for the period. This represents the difference between total income and total expenses incurred during the accounting period. This balance is then transferred to the owner's equity account and becomes the retained earnings of the business. The cash drawings of the owner are not taken into consideration while calculating the profit or loss of the business.

The Balance in the Profit and Loss Summary Account Before