Prior to closing, total revenues were $12,840,000 and total expenses were $9,975,000. During the year, the owner

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Prior to closing, total revenues were $12,840,000 and total expenses were $9,975,000. During the year, the owner made no additional investments and withdrew $630,000. After the closing entries, how much did the owner's capital account change?

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Financial Accounting

ISBN: 978-1337272124

15th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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Question Posted: May 26, 2017 09:53 AM

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Prior to closing, total revenues were $12,840,000 and total expenses were $9,975,000. During the year, the owner

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