Question
Hollywood Talent Services is a sole proprietorship operated by Phil Morris. The net income of Hollywood Talent Services is $23,000 for the year. The beginning
Hollywood Talent Services is a sole proprietorship operated by Phil Morris. The net income of Hollywood Talent Services is $23,000 for the year. The beginning and ending Morris, Capital account was $33,000 and $50,000, respectively. During the year, there were no new capital contributions. Calculate the amount of the owner's withdrawals for the year.
| $6000 | ||
| $9000 | ||
| $16,000 | ||
| $10,000 |
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Accounting The Basis For Business Decisions
Authors: Robert F. Meigs, Mary A. Meigs, Mark Bettner, Ray Whittington
10th Edition
0070433607, 978-0070433601
