(SOLVED) The following balances appear on the books of Brian Kaufman


Question Description:

$19

The following balances appear on the books of Brian Kaufman Enterprises: Kaufman, Capital, $30,000; Kaufman, Withdrawals $5,400; Service Revenue, $20,200; Salaries Expense, $6,800; Rent Expense, $3,000; Advertising Expense, $3,200. All accounts have normal balances.
Requirements
1. Open a T-account for each account, and insert its adjusted balance as given (denote as Adj. Bal.) at December 31.
2. Post the closing entries to the accounts, denoting posted amounts as Clos.
3. Compute the ending balance of Kaufman, Capital.

Answer

$19