Given the following accounts and their adjusted balances before closing entries are posted,what amount will be posted to Bessie Cool,Capital in the process of closing the Income Summary account? Assume all accounts have normal balances.
A) $7,180 credit.
B) $16,780 debit.
C) $16,780 credit.
D) $18,280 credit.
E) $23,780 credit.

Question

Given the following accounts and their adjusted balances before closing entries are posted,what amount will be posted to Bessie Cool,Capital in the process of closing the Income Summary account? Assume all accounts have normal balances. 
A) $7,180 credit. 
B) $16,780 debit. 
C) $16,780 credit. 
D) $18,280 credit. 
E) $23,780 credit.

Quizplus · Accepted Answer

The Answer of Given the following accounts and their adjusted balances before closing entries are posted,what amount will be posted to Bessie Cool,Capital in the process of closing the Income Summary account? Assume all accounts have normal balances. 
A) $7,180 credit. 
B) $16,780 debit. 
C) $16,780 credit. 
D) $18,280 credit. 
E) $23,780 credit.

Given the Following Accounts and Their Adjusted Balances Before Closing