The Adjusted Balances for Windsor Co

question 38

Multiple Choice

The adjusted balances for Windsor Co. are listed below. ​
Cash, $10,000
Accounts Receivable, $1,250
Prepaid Insurance, $1,750
Equipment, $7,500
Accumulated Depreciation, $1,000
Accounts Payable, $2,000
T. Windsor, Capital, $15,000
J. Windsor, Drawing, $5,000
Income from Services, $17,500
Wages Expense, $6,000
Rent Expense, $4,000
​
After recording the closing entries, what would be the balance of the capital account?

• A) $35,000
• B) $12,500
• C) $17,500
• D) $10,000

---

Definitions:

Functionalist Sociologists

Scholars who view society as a complex system whose parts work together to promote solidarity and stability, focusing on the functions that institutions and behaviors serve in society.

Welfare Dependency

A situation where individuals or families rely extensively on government assistance programs for their income and basic needs, rather than earning through employment.

Ethnic Intermarriage

Marriage between individuals of different ethnic backgrounds, often leading to cultural exchange and diversity within families.

Children's Well-Being

The holistic health, happiness, and prosperity of children, encompassing physical, emotional, educational, and social dimensions.