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Which of the following groups of accounts will have zero balances after the closing process is completed? Allowance for Doubtful Accounts and Uncollectible Accounts Expense Purchases and Purchases Returns and Allowances Merchandise Inventory and Sales Depreciation Expense and Accumulated Depreciation - Equipment
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Updated 10/8/2011 2:38:27 AM
1 Answer/Comment
Purchases and Purchases Returns and Allowances is a group of accounts that will have zero balances after the closing process is completed. ref:
Added 10/8/2011 2:38:27 AM
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The beginning capital balance shown on a statement of owner's equity is $86,000. Net income for the period is $36,000. The owner withdrew $44,000 cash from the business and made no additional investments during the period. The owner's capital balance at the end of the period is: (Points : 5) $78,000 $94,000 $122,000 $166,000
Weegy: The owner's capital balance at the end of the period is $122,000 (More)
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Expert Answered
Updated 10/8/2011 5:12:51 AM
1 Answer/Comment
$78,000 is the owner's capital balance at the end of the period if The beginning capital balance shown on a statement of owner's equity is $86,000, net income for the period is $36,000 and the owner withdrew $44,000 cash from the business and made no additional investments during the period. Solution: 86000+36000-44000=78000
Added 10/8/2011 5:12:51 AM
This answer has been added to the Weegy Knowledgebase
The beginning capital balance shown on a statement of owner's equity is $86,000. Net income for the period is $36,000. The owner withdrew $44,000 cash from the business and made no additional investments during the period. The owner's capital balance at the end of the period is: (Points : 5) $78,000 $94,000 $122,000 $166,000
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Not Answered
Updated 10/8/2011 5:15:35 AM
1 Answer/Comment
$78,000 is the owner's capital balance at the end of the period if The beginning capital balance shown on a statement of owner's equity is $86,000, net income for the period is $36,000 and the owner withdrew $44,000 cash from the business and made no additional investments during the period. Solution: 86000+36000-44000=78000
Added 10/8/2011 5:15:35 AM
This answer has been added to the Weegy Knowledgebase
The beginning capital balance shown on a statement of owner's equity is $86,000. Net income for the period is $36,000. The owner withdrew $44,000 cash from the business and made no additional investments during the period. The owner's capital balance at the end of the period is: (Points : 5) $78,000 $94,000 $122,000 $166,000
Question
Not Answered
Updated 10/8/2011 5:07:04 AM
1 Answer/Comment
$78,000 is the owner's capital balance at the end of the period if The beginning capital balance shown on a statement of owner's equity is $86,000, net income for the period is $36,000 and the owner withdrew $44,000 cash from the business and made no additional investments during the period. Solution: 86000+36000-44000=78000
Added 10/8/2011 5:07:04 AM
This answer has been added to the Weegy Knowledgebase
The beginning capital balance shown on a statement of owner's equity is $86,000. Net income for the period is $36,000. The owner withdrew $44,000 cash from the business and made no additional investments during the period. The owner's capital balance at the end of the period is: $78,000 $94,000 $122,000 $166,000
Weegy: The owner's capital balance at the end of the period is $125,000 (More)
Question
Expert Answered
Updated 10/8/2011 5:11:01 AM
1 Answer/Comment
$78,000 is the owner's capital balance at the end of the period if The beginning capital balance shown on a statement of owner's equity is $86,000, net income for the period is $36,000 and the owner withdrew $44,000 cash from the business and made no additional investments during the period. Solution: 86000+36000-44000=78000
Added 10/8/2011 5:11:01 AM
This answer has been added to the Weegy Knowledgebase
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