Multiple Choice
The net income of a business is $29,000. The beginning and ending capital balances were $34,000 and $55,000, respectively. No capital contributions were made by the owner during the year. Calculate the amount of owner's withdrawals.
A) $18,000
B) $8,000
C) $5,000
D) $60,000
Correct Answer:
Verified
Correct Answer:
Verified
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