Question
The F. Mercury, Capital account has a credit balance of $26,350 before closing entries are made. If total revenues for the period are $82,700, total
The F. Mercury, Capital account has a credit balance of $26,350 before closing entries are made. If total revenues for the period are $82,700, total expenses are $60,700, and withdrawals are $13,950, what is the ending balance in the F. Mercury, Capital account after all closing entries are made?
A:12,400 E48350
B:22,000
c34000
d26350
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Financial Accounting
Authors: LibbyShort
7th Edition
78111021, 978-0078111020
