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6. A merchandiser uses a perpetual inventory system. The beginning Owner. Capite balance of the...

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6. A merchandiser uses a perpetual inventory system. The beginning Owner. Capite balance of the merchandiser was $120,000. During the year, Sales Revenue amounted to $75,000. Cost of Goods Sold was $45,000, and all other expenses totaled $12,000. Owner withdrawals were $26.000. There were no new capital contributions during the year. The ending balance of Owner, Capital would be O A. $120,000 OB. $112.000 O c. $164,000 OD. $138,000 7. An adjusted trial balance for a sole proprietorship is given below. There were no new capital contributions during the year. 900 2.500 Debit Credit Cash $15,000 Accounts Receivable 5,000 Prepaid Rent Merchandise Inventory 26,000 Accounts Payable $4,100 Salaries Payable 500 Notes Payable 800 Lorenzo, Capital 9,000 Lorenzo, Withdrawals Sales Revenue 98.700 Cost of Goods Sold 21,000 Salaries Expense 20,000 Rent Expense 14,000 Selling Expenses 8,000volcan o Supplies Expense 700 Total $113,100 $113,100 What will be the final balance in the company's Lorenzo, Capital account after recording the closing entries? O A. $44,000 OB. $34,500 OC. $41,500 OD. $6,500

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