A Company's Ledger Accounts and Their End-Of-Period Balances Before Closing

question 36

Multiple Choice

A company's ledger accounts and their end-of-period balances before closing entries are posted are shown below. What amount will be posted to Wilson Peters, Capital in the process of closing the Income Summary account? (Assume all accounts have normal balances.)
$\begin{array}{lr}\text { Revenue }&29,000\\\text { Rent expense } & 3,600 \\\text { Salaries expense } & 7,200 \\\text { Insurance expense } & 920 \\\text { Depr.Expense-equipment } & 500 \\\text { Accum depr-equipment } & 1,500\end{array}$

• A)$7,180 credit.
• B)$16,780 credit.
• C)$16,780 debit.
• D)$23,780 credit.
• E)$18,280 credit.

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The exclusion or rejection from a group or society by general consent.

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The process or state in which individuals are systematically blocked from various rights, opportunities, and resources that are normally available to members of a different group.

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Intentionally leaving someone out of a group or activity.