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The Profit of a Business Is $21,000

Question 77

Multiple Choice

The profit of a business is $21,000.The beginning and ending capital balances were $34,000 and $50,000,respectively.No capital contributions were made by the owner during the year. Calculate the amount of owner's drawings.


A) $15,000
B) $12,000
C) $5000
D) $13,000

Correct Answer:

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