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 total amount of expenses for the period is
A)$200.
B)$400.
C)$900.
D)$500.

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 total amount of expenses for the period is
A)$200. 
B)$400. 
C)$900. 
D)$500.

Quizplus · Accepted Answer

The Answer of 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 total amount of expenses for the period is
A)$200. 
B)$400. 
C)$900. 
D)$500.

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