A Company's Ledger Accounts and Their End-Of-Period Balances Before Closing $\begin{array}{lr}\text { Wilson Peters, Capital } & \$ 7,000 \\\text { Wilson Peters, Withdrawals } & 9,600\end{array}$

question 127

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.) $\begin{array}{lr}\text { Wilson Peters, Capital } & \$ 7,000 \\\text { Wilson Peters, Withdrawals } & 9,600\end{array}$
$\begin{array} { l r } \text { Revenue } & 29,000 \\\text { Rent expense } & 3,600 \\\text { Salaries expense } &7,200\\\text { Insurance expense } & 920 \\\text { Depr.Expense-equipment } &500 \\\text { Accum depr.-equipment } & 1,500\end{array}$

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

---

Definitions:

Nash Equilibrium

A concept in game theory where no player can benefit by changing their strategy while the other players keep theirs unchanged, representing a state of optimal strategy among all participants.

Mixed Strategies

In game theory, strategies involving randomizing choices to make opponents indifferent between their own possible actions.

Maximin Strategy

Strategy that maximizes the minimum gain that can be earned.

Maximin Strategy

A decision-making strategy in which the decision-maker aims to maximize the minimum gain or minimize the maximum loss, often used in game theory and decision theory.