Question
After all appropriate closing entries to the following accounts have been made, what will be the balance in the Jeff Corvette, Capital account? Service fees
After all appropriate closing entries to the following accounts have been made, what will be the balance in the Jeff Corvette, Capital account?
Service fees revenue | $140,000 |
Various expenses | 60,000 |
Jeff Corvette, capital | 80,000 |
Jeff Corvette, withdrawals | 15,000 |
| a. | $130,000 | |
| b. | $80,000 | |
| c. | $65,000 | |
| d. | $280,000 | |
| e. | $145,000 |
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Financial Accounting An Integrated Statements Approach
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
2nd Edition
324312113, 978-0324312119
