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.
A. True
B. False
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel Short
5th Edition
0073208140, 978-0073208145
