1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tasya [4]
3 years ago
10

The beginning capital balance shown on a statement of owner's equity is $80,000. Net income for the period is $35,000. The owner

withdrew $18,000 cash from the business and made no additional investments during the period. The owner's capital balance at the end of the period is:Multiple Choice:
A. $133,000;
B. $97,000;
C. $80,000;
D. $63,000.
Business
1 answer:
jonny [76]3 years ago
7 0

Answer:

Correct option is (B)

Explanation:

Given:

Beginning capital = $80,000

Net income = $35,000

Drawings = $18,000

Net income is added to opening capital and deduct drawings to arrive at capital balance at the end.

Capital at the end of the year = opening capital + net income - drawings

                                                 = 80,000 + 35,000 - 18,000

                                                 = $97,000

You might be interested in
QS 4-15 Computing and analyzing gross margin ratio LO A2 Carrier Lennox Trane York Sales $ 150,000 $ 550,000 $ 38,700 $ 255,700
kogti [31]

Answer:

Maybe is you payed attention you would have knew the answer

Explanation:

Good luck :))

4 0
3 years ago
Skippy loves peanut butter. Skippy reads on the internet that 75 percent of the peanut crop in the South has been wiped out by d
Bingel [31]

Answer:

d. ​ Skippy’s demand for peanut butter increases today.

Explanation:

The taste and preferences of the consumers are one of the factors affecting the demand for the goods. The demand for goods increases according to tastes and preferences. Another factor of an increase in demand is the expectation of a consumer regarding the future prices of the goods.

In the given scenario, Skippy's demand for the peanut butter will increase because of the above mentioned two reasons. Since he is very much fond of the peanut butter, the demand will remain constant. At the same time, after reading about the future unavailability of the peanut butter and the increase in the price of it, the demand for the peanut butter will rise the present day.

6 0
3 years ago
WILL GIBE BRAINLEST
Alecsey [184]

Answer:

True

Explanation

seems right

6 0
3 years ago
If a sole proprietorship fails which of the owner's assets may be lost
bulgar [2K]
They can lose their personal assets.
4 0
3 years ago
What happens if an economy operates at a short-run equilibrium output that exceeds its long-run capacity,
g100num [7]

Answer:

There would be an increase in the price of resources for production

Explanation:

When an economy decides to operate at a short-run equilibrium output the cost of obtaining resources for production of goods and services would increase. and this increase in price of resource will cause the short run aggregate supply curve ( SRAS )to shift to the left.

The short run aggregate supply is the total goods and service produced in an economy at different prices while some of the resources used for the production of the goods and services are fixed

8 0
3 years ago
Read 2 more answers
Other questions:
  • The last element of a formal business letter should be the salutation followed by your signature.
    5·1 answer
  • Clark Company manufactures a product with a standard direct labor cost of two hours at $18.00 per hour. During July, 2,000 units
    10·1 answer
  • The supervisor of an automated teller machine (ATM) facility learns that the machine is not functioning efficiently because it u
    13·1 answer
  • The interest rate on a 10-year corporate bond for a company with AA rating will be higher than for a 10-year bond for a company
    12·1 answer
  • Which activity would a marketer consider to occur at a place, as defined in the four Ps of marketing? A. a person researching ma
    10·1 answer
  • While shopping for back-to-school clothes, Josie uses apps on her smartphone to comparison shop, and to obtain coupons and fashi
    9·1 answer
  • What global marketing opportunities and challenges would you face if the simulation were based on a real-world international sit
    15·1 answer
  • The crucial issue with the continuity factor of a business’s organizational form is _______.
    11·1 answer
  • Question 5 of 20
    6·1 answer
  • An account used in the periodic inventory system that is not used in the perpetual inventory system is?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!