Another Question Go to Table of Contents 3c. Revenues are more than expenses. Another Question Go to Table of Contents 3d. Actually, when the Income Summary account is closed, if it had a credit balance, the Capital account will increase. Another Question Go to Table of Contents 4a.
Withdrawals carries a debit balance.
Another Question Go to Table of Contents 4b. Withdrawals carries a debit balance and will decrease Capital when closed. Another Question Go to Table of Contents 4c. The Withdrawals account carries a debit balance. Another Question Go to Table of Contents 4d.