Given the Following Accounts and Their Adjusted Balances Before Closing

question 20

Multiple Choice

Given the following accounts and their adjusted balances before closing entries are posted, what amount will be posted to Bessie Cool, Capital in the process of closing the Income Summary account? Assume all accounts have normal balances. $$\begin{array} { | l | r | } \hline \text { Bessie Cool, capital } & \$ 7,000 \\\hline \text { Bessie Cool, withdrawals } & 9,600 \\\hline \text { Service Revenue } & 35,500 \\\hline \text { Rent expense } & 3,600 \\\hline \text { Salaries expense } & 7,200 \\\hline \text { Insurarace expense } & 920 \\\hline \text { Depreciation experse, equip. } & 500 \\\hline \text { Accumulated depreciation, equipment. } & 1,500 \\\hline\end{array}$$

• A) $12,180 credit
• B) $21,780 debit
• C) $21,780 credit
• D) $23,280 credit
• E) $28,780 credit

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Definitions:

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The seating arrangement within an aircraft, determining passenger capacity and comfort levels.

Rival in Consumption

A property of a good whereby one person's consumption of the good reduces the ability of another person to consume it.

Excludable

A characteristic of a good or service that allows owners or providers to prevent others from using it without paying.

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A venue specifically designed and equipped for the performance of live music, often with attention to acoustical properties to enhance sound quality.