Question
37) After closing the revenue, expense, and withdrawal accounts, the capital increased by $3,000. Which of the following situations could have occurred? A) The company
37) After closing the revenue, expense, and withdrawal accounts, the capital increased by
$3,000. Which of the following situations could have occurred?
A) The company had a net income.
B) The owner invested an additional amount.
C) The owner made a withdrawal.
D) All of these answers are correct.
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Advanced Financial Accounting
Authors: Richard Baker, Theodore Christensen, David Cottrell
9th edition
78110920, 978-0077899165, 77899164, 978-0077484255, 77484258, 978-0078110924
