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A sole firm has earned revenues of $5,500. Expenses for the month equal $3,000. The owner withdrew $500 for personal expenses. The beginning balance in
A sole firm has earned revenues of $5,500. Expenses for the month equal $3,000. The owner withdrew $500 for personal expenses. The beginning balance in the Capital account was $10,000. After closing the balances in the Capital and Drawings accounts are: a. $12,000;$0 b. $12,500;$500 c. $10,000;$3,000 d. $13,000;$0
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Continuous Auditing A Complete Guide
Authors: Gerardus Blokdyk
2019th Edition
0655540318, 978-0655540311
