Dogwood, Inc. earned revenues of $11,000 and incurred expenses of $7,500. The company declared and paid cash dividends of $2,000. What is the balance in the Income Summary account prior to closing net income or loss to the Retained Earnings account?
A) debit balance of $3,500
B) debit balance of $1,500
C) credit balance of $3,500
D) credit balance of $11,000
C .Revenue $11,000
Expenses - 7,500
Net Income $3,500
Business
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What will be an ideal response
Business
Timmy is very popular among his coworkers because he tries to balance the needs of others with those of his own to reach solutions when a conflict arises between them. This conflict management strategy is known as
a. forcing. b. compromising. c. problem solving. d. yielding. e. avoiding.
Business