After posting the second closing entry to the owner's capital account, what will the balance be equal
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Question:
After posting the second closing entry to the owner's capital account, what will the balance be equal to?
a. ending balance of capital on the statement of owner's equity
b. beginning owner's capital plus investment by owner plus net income (loss) for the period
c. revenues for the period
d. expenses for the period
Related Book For
College Accounting A Contemporary Approach
ISBN: 9781265647308
6th Edition
Authors: M. David Haddock, John Price, Michael Farina
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