Enter the following December 31 normal balances in the first row of T-accounts below: K. Korver, Capital $20,600; K. Korver, Withdrawals $3,300; Services Revenue $39,500, Salaries Expense $27,600; and Rent Expense $5,600. (1) Post closing entries to each account's T-account. (2) Compute the ending balance of each T-account, even if the final balance is $0. K. Korver, Capital Adjusted Balance Ending Balance Income Summary Adjusted Balance Ending Balance 3,300 Salaries Expense Adjusted Balance Ending Balance K. Korver, Withdrawals 20,600 Adjusted Balance Ending Balance Services Revenue Adjusted Balance Ending Balance Rent Expense Adjusted Balance Ending Balance

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.