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 Repair Company