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If Equity at the Beginning of the Period Is $45,000

Question 19

Multiple Choice

If equity at the beginning of the period is $45,000 and at the end of the period is $56,000 and $20,000 is withdrawn by the owner during the period, calculate profit. (Use the stock approach.)


A) $1,000.
B) $41,000.
C) $76,000.
D) $31,000.

Correct Answer:

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