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Nastasia [14]
4 years ago
5

Determine the net income. The owner's equity at the beginning of the period is $20,000. The owner made cash withdrawals that tot

al $7,000. At the end of the period the owner's equity is $37,000.
Business
1 answer:
irina [24]4 years ago
7 0
The equation of owners equity is revenue minus expenses. So basically in this question,
(Owner’s Equity at the beginning of the period) $20,000 + (Revenue/Net income) $* - (Drawings/Cash Withdrawal) $7,000 = (Owner’s Equity at the end of period) $37,000

Using the above formula, solving gives, Net Income: $24,000
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Answer:

The correct answer is letter "B": the independent variable.

Explanation:

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8 0
3 years ago
In the context of entrepreneurial behavior, the need for affiliation is the need to excel.
mr Goodwill [35]

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False

Explanation:

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8 0
3 years ago
Madison Corporation reported taxable income of $400,000 in 20 X 3 and accrued federal income taxes of $136,000. Included in the
salantis [7]

Answer:

A. $424,000

Explanation:

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3 years ago
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6 0
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