Question
John Smith is the owner of Alpha Technologies Inc. The beginning balance in Smith, Capital was $80,000. The revenues and expenses were $60,000 and $40,000,
John Smith is the owner of Alpha Technologies Inc. The beginning balance in Smith, Capital was $80,000. The revenues and expenses were $60,000 and $40,000, respectively. No withdrawals were made by Smith during the year. The ending balance in Smith, Capital was $100,000.
True
False
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Financial Accounting Information for Decisions
Authors: John Wild
7th edition
78025893, 978-0078025891
