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Use the following information for questions 127-129. Jimmy's Car Repair Shop started the year with total assets of $270,000 and total liabilities of $180,000. During
Use the following information for questions 127-129. Jimmy's Car Repair Shop started the year with total assets of $270,000 and total liabilities of $180,000. During the year, the business recorded $450,000 in car repair revenues, $255,000 in expenses, and Jimmy withdrew $45.000, 127. Jimmy's Capital balance at the end of the year was a. $240,000 b. $225,000 C. $285,000 d. $195,000 128 The net income reported by Jimmy's Car Repair Shop for the year was a. $150,000 b. $195,000. C. $90,000 d. $405,000 129. Jimmy's Capital balance changed by what amount from the beginning of the year to the end of the year? a. $45,000 b. $195,000 C. $90,000 d. $150,000
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