May Day operated a proprietorship, Days Gone Bye. On January 01, 2018, the opening capital balance was
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Question:
May Day operated a proprietorship, Days Gone Bye. On January 01, 2018, the opening capital balance was $ 55,000. Days Gone Bye, in 2018, earned $ 70,000 revenue and incurred $ 110,000 expenses. May Day withdrew $ 5,000 from her personal bank account.
Required:
What was Days Gone Bye’s capital balance at December 31, 2018 after the closing journal entries were recorded and posted?
Related Book For
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
Posted Date: