Please Refer to the Following Adjusted Trial Balance

question 156

Multiple Choice

Please refer to the following adjusted trial balance. What will the final ending balance in the Capital account be after posting the closing entries?

• A)$13,200
• B)$14,500
• C)$16,800
• D)$10,200

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Definitions:

Checking Account

A bank account that allows for the deposit and withdrawal of funds, typically using checks, debit cards, and electronic transfers, intended for daily transactions.

Cashier's Check

A check issued by a bank or financial institution, guaranteed by the bank itself, used for making large payments where the payee requires assurance of payment.

Certified Check

A certified check is a type of check for which the issuing bank guarantees the availability of funds by verifying that enough money exists in the check writer's account to cover the check.

Written Order

A formal, documented directive given by a court, employer, or another authoritative entity.