What is Ending capital

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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What is Ending capital?

Accounts Receivable
1,500
Supplies
1,200
Prepaid Insurance
800
Delivery Equipment
5,000
Accum. Depr.-Delivery Equip.
400
Accounts Payable
900
Wages Payable
1,400
Carlos Perez, Capital
15,600
Carlos Perez, Drawing
1,500
Delivery Fees
6,400
Wages Expense
880
Rent Expense
1,100
Supplies Expense
220
Telephone Expense
175
Electricity Expense
320
Insurance Expense
550
Depr. Exp.-Delivery Equip.
400
Miscellaneous Expense
55
3,700
6,400 21,000 18,300
Net Income
2,700
2,700
6,400
6,400 21,000 21,000
Transcribed Image Text:Accounts Receivable 1,500 Supplies 1,200 Prepaid Insurance 800 Delivery Equipment 5,000 Accum. Depr.-Delivery Equip. 400 Accounts Payable 900 Wages Payable 1,400 Carlos Perez, Capital 15,600 Carlos Perez, Drawing 1,500 Delivery Fees 6,400 Wages Expense 880 Rent Expense 1,100 Supplies Expense 220 Telephone Expense 175 Electricity Expense 320 Insurance Expense 550 Depr. Exp.-Delivery Equip. 400 Miscellaneous Expense 55 3,700 6,400 21,000 18,300 Net Income 2,700 2,700 6,400 6,400 21,000 21,000
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