Answer :
Answer:
The final balance in the capital account is $154,350.
Explanation:
The ending capital balance on the post-closing trial balance can be found by examining the financial statement called the statement of retained earnings. This statement shows the changes in the retained earnings account, which is a component of owner's equity. The ending capital balance is the final amount of owner's equity after all revenue, expenses, and withdrawals have been accounted for.
In the given options, the ending capital balance is represented by option b. 154,350. This means that after closing all the temporary accounts (such as revenue, expenses, and withdrawals) and transferring any net income or net loss to the retained earnings account, the final balance in the capital account is $154,350.
About Income
Income is the profit of the company as a whole after taking into account everything that flows in and out of feelings over a certain period of time. So, basically income is income. In a company, income is net profit. Net profit itself is the profit obtained after deducting gross costs
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