Use the following worksheet to answer the following questions. Based on the preceding trial balance, the ending balance in C.Finley, Capital is:
A) $33,000
B) $80,000
C) $30,000
D) $83,000

Question

Use the following worksheet to answer the following questions.  Based on the preceding trial balance, the ending balance in C.Finley, Capital is:
A) $33,000 
B) $80,000 
C) $30,000 
D) $83,000

Quizplus · Accepted Answer

The ending balance in C.Finley, Capital is calculated by subtracting the total credits from the total debits in the capital account. In this case, the total debits are $50,000 and the total credits are $-30,000, resulting in a balance of $80,000. Therefore, the correct answer is B.

Use the Following Worksheet to Answer the Following Questions