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Complete Problem 4-2A on page 314 and Problem 4-3A on page 315 on a piece of paper and then answer the following questions. What is
Complete Problem 4-2A on page 314 and Problem 4-3A on page 315 on a piece of paper and then answer the following questions. What is the opening balance of the Owners' Capital account January 1, 2023? Answer 1 In Step 2 of the closing entries what was the total amount posted to the Income Summary account when closing the expense account(s)? Answer 2 In Step 3 of the closing entries what was the amount posted to the Capital account to close out the Income Summary account? Answer 3 What is the Net Book Value of the Equipment at December 31, 2023? Answer 4
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