The beginning capital balance is $900; there are no additional investments or withdrawals by the owner during the accounting period.The period's revenue is $500 and expenses total $450.What is the ending capital balance (after closing entries)?
A)$950
B)$1,500
C)$1,450
D)$50

Question

Quizplus · Accepted Answer

The ending capital balance is calculated by adding the net income (revenue minus expenses) to the beginning capital balance. Net income is $500 - $450 = $50. Therefore, the ending capital balance is $900 + $50 = $950.

The Beginning Capital Balance Is $900; There Are No Additional