Question
The net income of Edwards Corporation amounted to $75,000 for this year. The beginning balance of owner's equity was $30,000 and the ending balance was
The net income of Edwards Corporation amounted to $75,000 for this year. The beginning balance of owner's equity was $30,000 and the ending balance was $72,000. The company received no new contributions during the year. What was the amount of the owner's withdrawals during the year?
a.$72,000
b. $33,000
c. $147,000
d. $30,000
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Financial Statements The Ultimate Guide To Financial Statements Analysis For Business Owners And Investors
Authors: Greg Shields
1st Edition
172643320X, 978-1726433204
