Question

If income summary has a $13,500 debit balance before it is closed to the capital account, the company

Answer 1

Answer and Explanation:

In the case when the company has the debit balance of the income summary account so there should be the net loss as the net loss have the debit balance while the credit balance net profit of the company

So

Since there is the debit balance of the income summary that means there is a net loss

So the same would be considered