The accountant of Randy's Flooring has closed all of the temporary income statement accounts. The accountant is now ready to close the Income Summary account. The owner of the company is R. Car. Using the Income Summary T-account below, determine the correct closing entry the accountant needs to make in order to close the account.Income Summary12/31 beg inv.2,00012/31 ending inv.5,00012/31 exp.42,00012/31 rev.85,000
A.
| Income Summary | 46,000 | |||
| R. Car, Capital | 46,000 | |||
B.
| R. Car, Capital | 90,000 | |||
| Income Summary | 90,000 | |||
C.
| Income Summary | 43,000 | |||
| R. Car, Capital | 43,000 | |||
D.
| R. Car, Capital | 46,000 | |||
| Income Summary | 46,000 | |||
Answer: A
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