Question

In the closing process, Owner Capital was debited for $49,850 and credited for $78,200. The company has

a. incurred a net loss of $28,350.
b. earned net income of $28,350.
c. incurred a net loss of $49, 850.
d. earned a net income of $78,200.

Answer 1

B

Step-by-step explanation:

The surplus value after the loss was 28,350. 78,200 minus 49,850= 28,350.