1.

Tara Westmont, the proprietor of Tiptoe Shoes, had annual revenues of $194,000, expenses of $108,200, and withdrew $21,600 from the business during the current year. The owners capital account before closing had a balance of $306,000. The ending owners capital balance after closing is:

• $370,200

• $391,800

• $194,000

• $64,200

• $85,800

2.

A company's Office Supplies account shows a beginning balance of $630 and an ending balance of $460. If office supplies expense for the year is $3,250, what amount of office supplies was purchased during the period?

• $2,790.

• $3,710.

• $3,080.

• $3,300.

• $3,880.