After Closing Entries Are Posted the Balance in the Owner's

question 194

Multiple Choice

After closing entries are posted the balance in the owner's capital account in the ledger will be equal to

• A) the beginning owner's capital reported on the owner's equity statement.
• B) the amount of the owner's capital reported on the balance sheet.
• C) zero.
• D) the net income for the period.

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Definitions:

St. John's Wort

An herbal plant traditionally used in the treatment of mild to moderate depression, anxiety, and sleep disorders.

Herbal Preparation

A process or product involving herbs used for their flavor, scent, medicinal, or therapeutic properties.

Manual Therapies

Therapeutic techniques that involve physical manipulation of muscle tissue and bones by a practitioner.