The owner's Capital, Withdrawals, and Income Summary accounts for Harmon Repair Company for the accounting period are presented below in T account form after the recording and posting of closing entries: The Bill Harmon, Capital balance on 1/1 was
A) $300.
B) $800.
C) $700.
D) $1,500.

Question

The owner's Capital, Withdrawals, and Income Summary accounts for Harmon Repair Company for the accounting period are presented below in T account form after the recording and posting of closing entries:  The Bill Harmon, Capital balance on 1/1 was
A) $300. 
B) $800. 
C) $700. 
D) $1,500.

Quizplus · Accepted Answer

The Answer of The owner's Capital, Withdrawals, and Income Summary accounts for Harmon Repair Company for the accounting period are presented below in T account form after the recording and posting of closing entries:  The Bill Harmon, Capital balance on 1/1 was
A) $300. 
B) $800. 
C) $700. 
D) $1,500.

The Owner's Capital, Withdrawals, and Income Summary Accounts for Harmon