The J Dawson, Capital Account Has a Credit Balance of $1,200

question 87

Multiple Choice

The J. Dawson, Capital account has a credit balance of $1,200 before closing entries are made. If total revenues for the year are $65,200, total expenses $49,800, and withdrawals are $2,400, what is the ending balance in the J. Dawson, Capital account after all closing entries have been made?

• A) $5,200
• B) $7,600
• C) $14,200
• D) $16,600
• E) $23,200

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Definitions:

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