Multiple Choice
The net income of Edwards Corporation amounted to $75,000 for this year.The beginning balance of owner's equity was $30,000 and the ending balance was $72,000.The company received no new contributions during the year.What was the amount of the owner's withdrawals during the year?
A) $72,000
B) $33,000
C) $147,000
D) $30,000
Correct Answer:
Verified
Correct Answer:
Verified
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