Multiple Choice
The net income of Harriet Company for the year is $25,000.The owner made withdrawals during the year of $30,000.Which of the following statements is true?
A) Owner,Capital account decreases by $25,000.
B) Owner,Capital account decreases by $5,000.
C) Owner,Capital account increases by $30,000.
D) Owner,Capital will remain the same.
Correct Answer:
Verified
Correct Answer:
Verified
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