Multiple Choice
Net income for the year is $25,000.Withdrawals of $36,000 per were taken at the end of the year.Which of the following occurs?
A) The Capital account decreases by $22,000.
B) The Capital account decreases by $11,000.
C) The Capital account increases by $11,000.
D) The Capital account increases by $22,000.
Correct Answer:
Verified
Correct Answer:
Verified
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