mit test Price Coffee started the year with a beginning capital balance of $24,000 During the year, the business earned $34,000 of service revenue and incurred $26,000 of expenses. The owner withdrew $13,000 from the business. After the closing entries are recorded and posted, what will be the balance in the Capital account? Post the beginning balance and closing entry amounts to the Capital account. Use a "Bal" posting reference to show the beginning and ending balance of the Capital account. Use a "Clos" posting reference to show the amounts that are posted while closing the books. The revenue and expense amounts should be combined into one closing entry for net income (like you are closing the Income Summary account) (If a box is not used in the T-account, leave the box empty; do not select a label or enter a zero.) Capital

Price Cotfee started the year with a beginning cepilal bulance of $24000 During the year, the business earned $34000 of service revenue and incurred $26,000 of expensas. The owner withdrew 513.000 froen the business After the closing entries are recorded and posted, what wil be the balance in the Capital account? Past the beginning balence and dosing entry amounts to the Captal acceunt Use a "Bal "postng roference to show the beginning and ending bslance of the Cagilal account Use a. Clos " posting feference to show the ambunts that are posted while closing the boois. The revenue and expense amounts ghould be combined ints one clasing entry for net income (Wike you are closing the income Summary account) (it a box is not vsed is the Taccount, leave the box empty; do not select a label or enter a rere.)