The Assets of Quinn's Business Increased by $40 000 and the Liabilities

Multiple Choice

The assets of Quinn's business increased by $40 000 and the liabilities increased by $5000 during the current year.If the profit for this period was $25 000,what additional contribution or withdrawal was made by the owner? Assume only a withdrawal or a contribution was made.

A) Drawings $10 000
B) Contribution $10 000
C) Contribution $5000
D) Drawings $5000