The Following Information Is Available for the Higgins Travel Agency

question 59

Multiple Choice

The following information is available for the Higgins Travel Agency. After closing entries are posted, what will be the balance in the C. Higgins, Capital account?
$\begin{array}{llr} \text {Net Income } &\$42,500\\ \text { C. Higgins, Capital } &130,000\\ \text { C. Higgins, Withdrawals } &12,000\end{array}$

• A) $99,500.
• B) $130,000.
• C) $75,500.
• D) $184,500.
• E) $160,500.

---

Definitions:

Ethnic Groups

Communities or populations sharing common cultural traditions, ancestry, language, or religion, which distinguishes them from other groups.

Immigration Patterns

Trends or movements of people across borders into new countries or regions, especially for the purpose of permanent residence or employment.

Eastern Europe

A geographical and cultural region that encompasses many countries to the east of Central Europe.

Central and South America

are geographical regions in the Americas, consisting of countries with diverse cultures, histories, and ecosystems.