The owner's Capital,Withdrawals,and Income Summary accounts for Laurel Repair Company for the accounting period are presented below in T account form after the recording and posting of closing entries:
-The Fran Laurel,Capital balance on 1/1 was
A)$2,000.
B)$1,800.
C)$2,400.
D)$2,200.

Question

The owner's Capital,Withdrawals,and Income Summary accounts for Laurel Repair Company for the accounting period are presented below in T account form after the recording and posting of closing entries:  
-The Fran Laurel,Capital balance on 1/1 was
A)$2,000. 
B)$1,800. 
C)$2,400. 
D)$2,200.

Quizplus · Accepted Answer

The Fran Laurel, Capital balance on 1/1 was $2,000.

The Owner's Capital,Withdrawals,and Income Summary Accounts for Laurel Repair Company