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Author Question: The entry to close the Withdrawal account was entered in reversethe Withdrawal account was debited ... (Read 131 times)

rayancarla1

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on: Nov 10, 2019
The entry to close the Withdrawal account was entered in reverse—the Withdrawal account was debited and Capital credited. The result of this error is that
◦ the end of period capital will be understated.
◦ the end of period capital will be overstated.
◦ before closing it, Income Summary will have a credit balance.
◦ before closing it, Income Summary will have a debit balance.
College Accounting: A Practical Approach ¦ Slater, Zwicker ¦ 12th Edition
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Marked as best answer by rayancarla1 on Nov 10, 2019

T4T

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Reply #1 on: Nov 10, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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rayancarla1

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Reply 2 on: Nov 10, 2019
YES! Correct, THANKS for helping me on my review

JaynaD87

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Reply 3 on: Yesterday
Excellent

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