### Multiple Choice Question:#### The ending balance in C. Finley, Capital is:- a. $8,435- b. $25,000- c. $25,685- d. $17,565---This question provides four options for the ending balance in C. Finley's Capital account. Select the correct option based on your knowledge or calculations. ### End-of-Period Spreadsheet for the Year Ended December 31#### Adjusted Trial Balance| **Account Title** | **Dr.** | **Cr.** ||---------------------------|---------|---------|| Cash | 16,000 | || Accounts Receivable | 6,000 | || Supplies | 2,000 | || Equipment | 19,000 | || Accumulated Depreciation | | 6,000 || Accounts Payable | | 10,000 || Wages Payable | | 2,000 || C. Finley, Capital | | 17,565 || C. Finley, Drawing | 1,000 | || Fees Earned | | 42,628 || Wages Expense | 21,815 | || Rent Expense | 6,609 | || Depreciation Expense | 5,769 | || | **78,193** | **78,193** |#### Income Statement| **Account Title** | **Dr.** | **Cr.** ||--------------------------|---------|---------|| Fees Earned | | 42,628 || Wages Expense | 21,815 | || Rent Expense | 6,609 | || Depreciation Expense | 5,769 | || | **34,193** | **42,628** || Net Income | **8,435** | |#### Balance Sheet| **Account Title** | **Dr.** | **Cr.** ||---------------------------|---------|---------|| Cash | 16,000 | || Accounts Receivable | 6,000 | || Supplies | 2,000 | || Equipment | 19,000 | || Accumulated Depreciation | | 6,000 || Accounts Payable | | 10,000 || Wages Payable | | 2,000 || C. Finley, Capital | | 17,565

In the capital account, the investment by the owner and the earnings during the period is added to…

Account Title Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable C. Finley, Capital C. Finley, Drawing Fees Earned Wages Expense Rent Expense Depreciation Expense Net Income End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Dr. Cr. Dr. Cr. 16,000 6,000 2,000 19,000 1,000 21,815 6,609 5,769 78,193 6,000 10,000 2,000 17,565 42,628 78,193 21,815 6,609 5,769 34,193 8,435 42,628 Balance Sheet Dr. Cr. 16,000 6,000 2,000 19,000 6,000 10,000 2,000 17,565 1,000 42,628 42,628 44,000 35,565 8,435 42,628 44,000 44,000

Account Title Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable C. Finley, Capital C. Finley, Drawing Fees Earned Wages Expense Rent Expense Depreciation Expense Net Income End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Dr. Cr. Dr. Cr. 16,000 6,000 2,000 19,000 1,000 21,815 6,609 5,769 78,193 6,000 10,000 2,000 17,565 42,628 78,193 21,815 6,609 5,769 34,193 8,435 42,628 Balance Sheet Dr. Cr. 16,000 6,000 2,000 19,000 6,000 10,000 2,000 17,565 1,000 42,628 42,628 44,000 35,565 8,435 42,628 44,000 44,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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