Solved

At October 1, Smithson Enterprises Reported Owner's Equity of $35,000

Question 212

Multiple Choice

At October 1, Smithson Enterprises reported owner's equity of $35,000. During October, the owner made additional investments of $2,000 and the company earned net income of $6,000. If owner's equity at October 31 totals $40,000, what amount of owner drawings were made during the month?


A) $0
B) $3,000
C) $4,000
D) $5,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions