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A company reported the following amounts and balances: Beginning capital balance $45,000, Net Sales $420,000, Cost of Goods Sold $273,000, Total Expenses $112,000, Net Income $35,000, Ending Cash Balance $22,000, Withdrawals $7,200, Ending Accounts Receivable $27,000. What is the Ending Capital Balance

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tutorAnne

Answer:Ending Capital Balance=  $72,800

Explanation:

Ending Capital Balance  is is the amount left in an account whether , positive or negative, at the end of an accounting period and calculated as Beginning Capital Balance+Net Income-Withdrawals

Particulars                                      Amount

Beginning Capital Balance             $45,000

Add:

Net Income                                      $35,000

deduct:

Withdrawals                                       $7,200

Ending Capital Balance                    $72,800

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