Use the following account balances from the adjusted trial balance of Flora Wholesalers: Account Debit Balance Credit Balance Cash $ 4,200 Accounts receivable $ 300 Accounts payable $ 1,100 H. Jones, Capital $ 4,400 H. Jones, Drawing $ 900 Fees revenue $ 13,200 Advertising expense $ 8,100 Travel expense $ 4,200 Shipping expense $ 300 Computer software expense $ 400 What is the balance of the H. Jones, Capital account at year-end for Flora Wholesalers? Multiple Choice $3,500 $3,700 $4,400 $4,600

Use the following account balances from the adjusted trial balance of Flora Wholesalers: Account Debit Balance Credit Balance Cash $ 4,200 Accounts receivable $ 300 Accounts payable $ 1,100 H. Jones, Capital $ 4,400 H. Jones, Drawing $ 900 Fees revenue $ 13,200 Advertising expense $ 8,100 Travel expense $ 4,200 Shipping expense $ 300 Computer software expense $ 400 What is the balance of the H. Jones, Capital account at year-end for Flora Wholesalers? Multiple Choice $3,500 $3,700 $4,400 $4,600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Account	Debit Balance	Credit Balance
Cash	$ 4,200
Accounts receivable	$ 300
Accounts payable		$ 1,100
H. Jones, Capital		$ 4,400
H. Jones, Drawing	$ 900
Fees revenue		$ 13,200
Advertising expense	$ 8,100
Travel expense	$ 4,200
Shipping expense	$ 300
Computer software expense	$ 400

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Use the following account balances from the adjusted trial balance of Flora Wholesalers: Account Debit Balance Credit Balance Cash $ 4,200 Accounts receivable $ 300 Accounts payable $ 1,100 H. Jones, Capital $ 4,400 H. Jones, Drawing $ 900 Fees revenue $ 13,200 Advertising expense $ 8,100 Travel expense $ 4,200 Shipping expense $ 300 Computer software expense $ 400 What is the balance of the Income Summary account of Flora Wholesalers after the second step of the closing process is completed? Multiple Choice $200 debit balance $200 credit balance $13,200 debit balance $13,200 credit balance
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