Question: withdrew $ 1 4 , 0 0 0 from the business. After the closing entries are recorded and posted, what will be the balance of

withdrew $14,000 from the business. After the closing entries are recorded and posted, what will be the balance of Rogers, Capital?
withdrew $14,000 from the business. After the closing entries are recorded

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

1.Withdrawal of cash from a business by the owner for personal reasons will NOT affect which financial statement? a. Statement of owner's equity b. Cash flow statement c. Balance sheet d. Income...

Q:

Show the Solution/Explanation for my Guidance The next 6 questions pertain to this problem. Jose Carpio decided to invest P1,000,000 excess cash in a bank at 3% annual interest rate on March 1, 2019....

Q:

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...

Q:

COULD YOU PLEASE ANSWER QUESTION 2 AND ONWARD. QUESTION 1 HAS ALREADY BEEN ANSWERED. THANK YOU Sousa Realty Chart of Accounts Revenue Assets 411 Commissions Earned 111 Cash Expenses 112 Accounts...

Q:

Macklemore, Inc. Trial Balance Dec. 2, 20X1 1$ 56,000 1$ 6,000 $ 5,000 $ 20,000 $ 1.500 $ 12.000 . Cash Accounts Receivable Note Receivable Inventory Supplies Equipment Prepaid Rent Prepaid Insurance...

Q:

Macklemore, Inc. Trial Balance Dec. 2, 20X1 $ 56,000 $ 6,000 $ 5,000 $ 20,000 $ 1,500 $ 12,000 $ 3,600 $ 600 - Cash Accounts Receivable Note Receivable Inventory Supplies Equipment Prepaid Rent...

Q:

Homework: HW Ch4 Save Score: 0 of 13 pts 4 of 5 (0 complete) HW Score: 0%, 0 of 100 pts E4-21 (similar to) Question Help Hill Insurance Agency started the year with a beginning capital balance of...

Q:

Acct 101 project part 1 This project will be completed in two parts. The instructions and list of daily business transactions are listed in the Google Sheet titled "Project Instructions" link below....

Q:

FUNDAMENTALS or ACCOUNTING ____+-_c_~ 29. After closing the expense accounts, the total of the expense accounts win appear on the debit side of the income 31.1 mmary account. 30. The debit .to Income...

Q:

Homework: Week 3 Chapter 04 exercises Save Score: 0 of 1 pt 8 of 8 (0 complete) HW Score: 0%, 0 of 8 pts E4-22 (similar to) E Question Help Hill Insurance Agency started the year with a beginning...

Q:

Why is it necessary to adjust the initial room-temperature clearance of a joint between two significantly different metals?

Q:

If A is an invertible matrix and k is a positive integer, then (A*)-1 = A-A-1...A-1 = (A-1)& %3D k factors

Q:

Suppose that you have two business offers. The first is from Ed who wants to borrow \ ( \ $ 1 0 0 , 0 0 0 \ ) . He offers to pay you \ ( \ $ 6 0 , 0 0 0 \ ) after the first year and another \ ( \ $ 6...

Q:

Discuss the policy statement concept and identify three focus areas / procedures where a clearpolicy statement / operating procedure

Q:

1. What would you do if you were Jennifer, and why?

Q:

3. This case and this chapter both had something to say about how organizational culture influences ethical behavior. What role do you think culture played at Enron? Give five specific examples of...

Q:

1. Do you think Angelo is underperforming as a result of motivation or something else, such as the need for improved training? How would you find out?