What is Ending capital? Accounts Receivable1,500Supplies1,200Prepaid Insurance800Delivery Equipment5,000Accum. Depr.-Delivery Equip.400Accounts Payable900Wages Payable1,400Carlos Perez, Capital15,600Carlos Perez, Drawing1,500Delivery Fees6,400Wages Expense880Rent Expense1,100Supplies Expense220Telephone Expense175Electricity Expense320Insurance Expense550Depr. Exp.-Delivery Equip.400Miscellaneous Expense553,7006,400 21,000 18,300Net Income2,7002,7006,4006,400 21,000 21,000

Formula: Ending Capital = Beginning capital + Net income - Drawings

Answered: What is Ending capital

Business

Accounting

What is Ending capital

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 4.1AP

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2. Prepare a December 31 balance sheet in proper form for Surety Insurance using the following accounts and amounts: Commissions Revenue Earned.............$40,000Accounts payable..................3,500Accounts receivable............... 5,000M. Bruno, Capital..................103,500Office equipment...................10,000Advertising expense............. 3,200Cash................................... 7,500Land......................................35,000Note payable.......................... 50,000Office supplies........................500Salaries expense....................12,000Salaries payable.....................1,000Building...............................100,000
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