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Find owner capital method

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For Chan Computer Services, the quarter-end income statement shows the total expenses of $250,000 and service revenue of $400,000. Assume the additional investment during the period amounted to $8,000. Which one of the following is true when it comes to preparing its closing entries using the owner's capital method? Select one: a. DR Net Income: $150,000; CR Chan, Capital: $150,000 O b. DR Service Revenue: $400,000; CR Income Summary: $400,000 O c. DR Individual Expense Accounts for a total of $250,000; CR Chan, Capital: $250,000 O d. DR Service Revenue: $400,000; CR Chan, Capital: $400,000

Reference no: EM133247024

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