The owner's capital account has a January 1, 2020, balance of $46,000. The owner's withdrawals account...

 

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The owner's capital account has a January 1, 2020, balance of $46,000. The owner's withdrawals account has a balance of $15,600 for the year ending December 31, 2020. The income summary account contains a debit for $20,500 and a credit for $56,900. The balance in the owner's capital account on December 31, 2020, is: O $2,000. $30,400. O $66,800. $25,200. The owner's capital account has a January 1, 2020, balance of $46,000. The owner's withdrawals account has a balance of $15,600 for the year ending December 31, 2020. The income summary account contains a debit for $20,500 and a credit for $56,900. The balance in the owner's capital account on December 31, 2020, is: O $2,000. $30,400. O $66,800. $25,200.

Answer rating: 100% (QA)

Opening balance 46000 Withdrawal 15600 In... View the full answer