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The Owner's Capital, Withdrawals, and Income Summary Accounts for Laurel

Question 74

Multiple Choice

The owner's Capital, Withdrawals, and Income Summary accounts for Laurel Repair Company for the accounting period are presented below in T account form after the recording and posting of closing entries: The owner's Capital, Withdrawals, and Income Summary accounts for Laurel Repair Company for the accounting period are presented below in T account form after the recording and posting of closing entries: The Fran Laurel, Capital balance on 1/1 was A) $2,000. B) $1,800. C) $2,400. D) $2,200. The Fran Laurel, Capital balance on 1/1 was


A) $2,000.
B) $1,800.
C) $2,400.
D) $2,200.

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