Prior to closing, total revenues were $12,840,000 and total expenses were $9,975,000. During the year, the owner made no additional investments and withdrew $630,000. After the closing entries, how much did the owner’s capital account change?

What are two benefits of consumer programs

The retained earnings account has a credit balance of $24,650 before closing entries are made. if total revenues for the period are $77,700, total expenses are $56,900, and dividends are $13,050, what is the ending balance in the retained earnings account after all closing entries are made?

During the current year, luis university received a $50,000 gift from an alumna who specified that it must be used to pay travel costs for faculty to attend health care conferences in foreign countries. during the year the university spent $8,000 to support travel to a health care conference in italy. the $8,000 disbursement will cause a net decrease in which class of net assets?