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If Equity at the Beginning of the Period Is $100,000

Question 61

Multiple Choice

If equity at the beginning of the period is $100,000 and at the end of the period is $90,000 and additional capital of $20,000 is paid into the business by the owner during the period,profit or loss is:


A) profit $10,000.
B) loss $30,000.
C) loss $10,000.
D) profit $30,000.

Correct Answer:

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