Refer to the Following Adjusted Trial Balance What Will Be the Final Ending Balance in the Owner's

question 34

Multiple Choice

Refer to the following adjusted trial balance. $\begin{array}{|l|l|l|}\hline \text { Accounts } & {\text { Debit }}&\text { Credit } \\\hline \text { Cash } & \$ 1900 \\\hline \text { Accounts receivable } & 3500 \\\hline \text { Office supplies } & 100 \\\hline \text { Equipment } & 20,500\\\hline \text { Accumulated depreciation -equipment } & \$ 3000 \\\hline \text { Accounts payable } & 1700 \\\hline \text { Salaries payable } & 350 \\\hline \text { Unearned revenue } & 550 \\\hline \text { Owner's name, capital } & 3200 \\\hline \text { Owner's name, drawings } & 3000 & \\\hline \text { Service revenue } & & 51,700 \\\hline \text { Salaries expense } & 23,000 \\\hline \text { Supplies expense } & 2200 \\\hline \text { Depreciation expense - equipment } & 1800 \\\hline \text { Total } & \$ 1,000 & \$ 1,000\\\hline\end{array}$ What will be the final ending balance in the Owner's name,capital account after posting the closing entries?

• A)$24,700
• B)$27,900
• C)$24,900
• D)$27,700

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Definitions:

Top-Down Processing

An approach to perception that involves higher-level cognitive processes, such as expectations and previous knowledge, to interpret sensory information.

Müller-Lyer Illusion

A visual illusion in which two lines of the same length appear to be of different lengths because of the addition of inward or outward facing wings at the ends of the lines.

Poggendorf Illusion

A visual illusion that involves the misperception of the position of one part of a transversal line that has been interrupted by the contour of an intervening structure.

Ponzo Illusion

A visual illusion where the context causes an object to appear larger or smaller than it actually is.