Use the following account balances from the adjusted trial balance of Gees Catering: Account Debit Balance Credit Balance Cash 10,000 Accounts Payable 2,000 R. Gees, Capital 18,000 R. Gees, Drawing 1,000 Fees Revenue 10,000 Salary Expense 7,000 Rent Expense 6,000 Supplies Expense 6,000 What is the amount that Gees Consulting would report as the ending balance in the R. Gees, Capital account at the end of the year? Multiple Choice $8,000 $18,000 $26,000 $28,000

Use the following account balances from the adjusted trial balance of Gees Catering: Account Debit Balance Credit Balance Cash 10,000 Accounts Payable 2,000 R. Gees, Capital 18,000 R. Gees, Drawing 1,000 Fees Revenue 10,000 Salary Expense 7,000 Rent Expense 6,000 Supplies Expense 6,000 What is the amount that Gees Consulting would report as the ending balance in the R. Gees, Capital account at the end of the year? Multiple Choice $8,000 $18,000 $26,000 $28,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 9EA: Identify whether each of the following accounts would be listed in the companys Post-Closing Trial...

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Account	Debit Balance	Credit Balance
Cash	10,000
Accounts Payable		2,000
R. Gees, Capital		18,000
R. Gees, Drawing	1,000
Fees Revenue		10,000
Salary Expense	7,000
Rent Expense	6,000
Supplies Expense	6,000

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