Beginning balance in Capital is $80 000. Revenues are $60 000. Expenses are $75 000. No drawings were taken. The ending balance in Capital is $65 000.

Question

Quizplus · Accepted Answer

The ending balance in Capital is calculated as Beginning balance + Revenues - Expenses - Drawings. In this case, the beginning balance is $80,000, revenues are $60,000, expenses are $75,000, and no drawings were taken. Therefore, the ending balance in Capital is $80,000 + $60,000 - $75,000 = $65,000.

Beginning Balance in Capital Is $80 000