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The Income Statement for the Year 2010 of Poole Co

Question 36

Multiple Choice

The income statement for the year 2010 of Poole Co. contains the following information: The income statement for the year 2010 of Poole Co. contains the following information: At January 1, 2010, Poole reported owner's equity of $50,000. Owner drawings for the year totalled $10,000. At December 31, 2010, the company will report owner's equity of A) $13,500. B) $36,500. C) $40,000. D) $43,500. At January 1, 2010, Poole reported owner's equity of $50,000. Owner drawings for the year totalled $10,000. At December 31, 2010, the company will report owner's equity of


A) $13,500.
B) $36,500.
C) $40,000.
D) $43,500.

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