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The Beginning Capital Balance Is $5,350,there Are No Additional Investments

Question 23

Multiple Choice

The beginning capital balance is $5,350,there are no additional investments but the owner did withdraw $500 during the accounting period.The period's revenue is $5,000 and expenses total $6,500.What is the ending capital balance (after closing entries) ?


A) $5,350
B) $2,850
C) $5,850
D) $3,350

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