Question
Elis Electronic Repair Shop started the year with total assets of $300,000 and total liabilities of $200,000. During the year, the business recorded $400,000 in
Elis Electronic Repair Shop started the year with total assets of $300,000 and total liabilities of $200,000. During the year, the business recorded $400,000 in electronic repair revenues, $300,000 in expenses, and Eli withdrew $50,000. Eli's Owners Capital balance at the end of the year was
A. $100,000
B. $150,000
C. $350,000
D. $200,000
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Financial Accounting
Authors: Belverd E. Needles Jr,, Marian Powers
8th Edition
0618310746, 978-0618310746
