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 amount of withdrawals for the period is
A)$50.
B)$200.
C)$400.
D)$500.

Question

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 amount of withdrawals for the period is
A)$50. 
B)$200. 
C)$400. 
D)$500.

Quizplus · Accepted Answer

The Answer of 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 amount of withdrawals for the period is
A)$50. 
B)$200. 
C)$400. 
D)$500.

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