Use the Following End-Of-Period Spreadsheet to Answer the Questions That

question 11

Multiple Choice

Use the following end-of-period spreadsheet to answer the questions that follow.
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-Use the end-of-period spreadsheet for Finley Company. The first closing entry would include a

• A) debit to C. Finley, Capital for $155,000
• B) debit to C. Finley, Capital for $50,000
• C) credit to C. Finley, Capital for $50,000
• D) credit to C. Finley, Capital for $155,000

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Definitions:

Iroquois Confederacy

A union of several Native American tribes in the northeastern United States, known for their influence on democratic practices and their role in American history.

European-Style

Referring to something, such as design, fashion, or cuisine, that is characteristic of or influenced by European traditions and cultures.

Gradual Emancipation

A legal process through which the emancipation of slaves was made to occur slowly over a period of time, rather than immediately.

Legislature Abolished

The disbandment or termination of a legislative body, which is an assembly with the authority to make, amend, and repeal laws.