An Adjusted Trial Balance Is Given Below

question 193

Multiple Choice

An adjusted trial balance is given below.

What will be the final balance in the company's Owner,Capital account after recording the closing entries?

• A)$38,100
• B)$39,600
• C)$26,300
• D)$2,300

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Definitions:

Accounts Receivable Period

The typical duration in days that a company requires to receive payments from its sales made on credit.

Restrictive Short-Term Financial Policy

A financial strategy that prioritizes maintaining a lower level of current assets relative to liabilities, often to maximize profitability at the expense of liquidity.

Marketable Securities

Financial instruments that can be quickly converted into cash, such as stocks, bonds, or treasury bills, with minimal loss of value.

Short-Term Debt

A financial obligation that is due to be repaid within a year or less.