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Question 1 (10 points)

A summary of selected ledger accounts appear below for S. Ball for the current calendar year.

Answer questions 1 through 4 based on this information.

S. Ball. Capital

S Ball. Withdrawals

12/31 6,500 1 1 27,000

331 2,000 1231 6.000

12 31 4.250

10/31 3,000

S. Bo

123

1.000

12 22

Income Summary

1231 12.750 1231 17,000

12 31 4.250

1. What was the total amount of withdrawals for the year?

A)$6500

B)$1000

C)"O$3000

D)$6000

Respuesta :

mysterygoddess86

Answer:

Question 1  10 / 10 points

A summary of selected ledger accounts appear below for S. Ball for the current calendar year.

Answer questions 1 through 4 based on this information.

 

1. What was the total amount of withdrawals for the year?  

$6000

Question 2

2.What was the net income?

$4250

Question 3

 

3.What was the total revenue?

$17,000

4.What were the total expenses?

$12.750

5.

__2__  

Unearned Revenue

__5__  

Brandon Jones, Capital

__1__  

Cash

__3__  

Equipment

__4__  

Mortgage

1.  

Current Assets

2.  

Current Liabilities

3.  

Fixed Assets

4.  

Long-term Liability

5.  

Equity

Question 6  

At the end of the closing process, Income Summary will hold a balance.

Question options:

b) False

Step-by-step explanation:

I just took this quiz and got a 100%

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