【判断题】Ending capital reported on the statement of owner’s equity is calculated by adding owner investments and net losses and subtracting net incomes and withdrawals.
【简答题】Indicate in which financial statement each item would most likely appear: income statement (I), balance sheet (B), statement of owner’s equity (E), or statement of cash flows (CF). a. Assets b. Cash f...
【单选题】A company had revenues of $75,000 and expenses of $62,000 for the accounting period. The owner withdrew $8,000 in cash during the same period. Which of the following entries could not be a closing ent...
A.
Debit Income Summary $13,000; credit Owner’s, Capital $13,000
B.
Debit Income Summary $75,000; credit Revenues $75,000.
C.
Debit Revenues $75,000; credit Income Summary $75,000.
D.
Debit Income Summary $62,000, credit Expenses $62,000.
E.
Debit Owner’s, Capital $8,000, credit Owner’s, Withdrawals $8,000.