The following normal account balances were found on the general ledger before closing entries were prepared: $$\begin{array} { | l | l | }
\hline \text { Revenue } \$ 700 & \text { Cash } \$ 600 \
\hline \text { Expenses } \$ 400 & \text { Accounts Receivable } \$ 400 \
\hline \text { Capital } \$ 7,500 & \text { Withdrawals } \$ 1,000 \
\hline
\end{array}$$ After closing entries are posted,what is the balance in the Capital account?

Question

The following normal account balances were found on the general ledger before closing entries were prepared: $$\begin{array} { | l | l | } 
\hline \text { Revenue } \$ 700 & \text { Cash } \$ 600 \
\hline \text { Expenses } \$ 400 & \text { Accounts Receivable } \$ 400 \
\hline \text { Capital } \$ 7,500 & \text { Withdrawals } \$ 1,000 \
\hline
\end{array}$$ After closing entries are posted,what is the balance in the Capital account?

Quizplus · Accepted Answer

The Answer of The following normal account balances were found on the general ledger before closing entries were prepared: $$\begin{array} { | l | l | } 
\hline \text { Revenue } \$ 700 & \text { Cash } \$ 600 \
\hline \text { Expenses } \$ 400 & \text { Accounts Receivable } \$ 400 \
\hline \text { Capital } \$ 7,500 & \text { Withdrawals } \$ 1,000 \
\hline
\end{array}$$ After closing entries are posted,what is the balance in the Capital account?

The Following Normal Account Balances Were Found on the General