Top Posters
Since Sunday
s
3
v
3
p
3
m
2
s
2
d
2
N
2
d
2
e
2
s
2
s
2
e
2
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
majestico majestico
wrote...
Go to Answer
Posts: 1455
Rep: 6 0
7 years ago
The following normal account balances were found on the general ledger before closing entries were prepared:

Revenue $1,100   Cash $600
Expenses $600   Accounts Receivable $400
Capital $7,500   Withdrawals $1,000

After closing entries are posted, what is the balance in the Capital account?
A) $7,500
B) $7,000
C) $8,000
D) Closing entries do not affect the Capital account.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
Read 89 times
1 Reply
Replies
Answer verified by a subject expert
OmpaOmpa
wrote...
#1
Top Poster
Posts: 772
Rep: 18 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

majestico Author
wrote...

7 years ago
Smart ... Thanks!
Turboturner
wrote...

Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Evolution
wrote...

2 hours ago
Thanks for your help!!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1047 People Browsing
 116 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 339
  
 419
  
 196
Your Opinion
Who's your favorite biologist?
Votes: 608
Previous poll results: Which 'study break' activity do you find most distracting?