The Income Summary account can be defined as which of the following? (Check all that apply.) Multiple select question. A permanent account A temporary account An account whose balance equals net income or net loss An account that contains a credit for the sum of all revenues An account used during the closing process An account that contains a credit for the sum of all expenses

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When the amount for land is 36,000 and the amount paid for expenses is 10,000, the balance of total asset is

Pear co.’s income statement for the year ended december 31, as prepared by pear’s controller, reported income before taxes of $125,000. the auditor questioned the following amounts that had been included in income before taxes: equity in earnings of cinn co. $ 40,000 dividends received from cinn 8,000 adjustments to profits of prior years for arithmetical errors in depreciation (35,000) pear owns 40% of cinn’s common stock, and no acquisition differentials are relevant. pear’s december 31 income statement should report income before taxes of