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

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Definitions:

Glycolysis

The metabolic pathway that breaks down glucose into pyruvate, releasing energy and pyruvic acid, the first step in cellular respiration.

Citric Acid Cycle

A set of chemical transformations that enable aerobic entities to produce energy, through the oxidation of acetate from carbohydrates, fats, and proteins into carbon dioxide.

Acetyl CoA

A molecule that plays a vital role in metabolism, particularly in the synthesis and oxidation of fatty acids, and the Krebs cycle for energy production.

Electron Transport

is a series of chemical reactions that transfer electrons from electron donors to electron acceptors via redox reactions, and couples this electron transfer with the transfer of protons (H+ ions) across a membrane.