Debit Income Summary 30000 credit Owner Withdrawals 30000 Debit Income Summary

Debit income summary 30000 credit owner withdrawals

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Debit Income Summary $30,000; credit Owner Withdrawals $30,000. Debit Income Summary $30,000; credit Owner Capital $30,000. Debit Owner Capital $30,000; credit Income Summary $30,000. Credit Owner Capital $30,000; debit Owner Withdrawals $30,000. 74. Use the information in the adjusted trial balance presented below to calculate current assets for Taron Company: Account Title Cash Accounts receivable Prepaid insurance Equipment Accumulated depreciation—Equipment Land Accounts payable Interest payable Unearned revenue Long-term notes payable Z. Taron, Capital Totals Dr $ 35,000 20,000 8,200 140,00 0 Cr $ 70,000 21,000 3,400 6,200 42,000 159,600 42/44
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10/4/2017 Assignment Print View Award: 1.33 out of 1.33 points 99,000 $302,20 0 $302,20 0 $99,000. $63,200. $302,200. $21,000. $41,200. Current Assets = Cash + Accounts Receivable + Prepaid Insurance Current Assets = $35,000 + $20,000 + $8,200 = $63,200 43/44
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10/4/2017 Assignment Print View Award: 75. 1.58 out of 1.58 points The following information is available for Zephyr Company before closing the accounts. After all of the closing entries are made, what will be the balance in the Zephyr, Capital account? Net Income $126,500 Zephyr, Capital 120,000 Zephyr, Withdrawals 46,000 $126,500. $246,500. $281,000. $200,500. $1,047,500. Ending Capital Balance = Beginning Capital Balance + Net Income - Withdrawals Ending Capital Balance = $120,000 + $126,500 - $46,000 = $200,500 44/44
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  • Spring '15
  • Jon Lorance

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