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The beginning capital balance shown on a statement of owner's equity is $240,000. Net income for the period is $64,000. The owner withdrew $32,000 cash
The beginning capital balance shown on a statement of owner's equity is $240,000. Net income for the period is $64,000. The owner withdrew $32,000 cash from the business and made no additional investments during the period. The owner's capital balance at the end of the period is
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Advanced Financial Accounting
Authors: Richard Lewis, David Pendrill
6th Edition
0273638335, 978-0273638339
