G. Venda, owner of Venda Services, withdrew 25,000 from the business during the current year. The entry
Question:
G. Venda, owner of Venda Services, withdrew 25,000 from the business during the current year. The entry to close the withdrawals account at the end of the year is:
a) G. Venda Withdrawals ................... 25,000
G. Venda Capital ................................. 25,000
b) Income Summary .......................... 25,000
G. Venda Capital ................................. 25,000
c) G. Venda Withdrawals .................... 25,000
Cash ...................................................... 25,000
d) G. Venda Capital ............................. 25,000
Salary Expense .................................... 25,000
e) G. Venda Capital ............................. 25,000
G. Venda Withdrawals ....................... 25,000
Accounting
ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess