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At the beginning of the year, owners' equity totaled $150,000. During the year, net income was $45,000, and dividends of $20,000 were declared and paid. Owners' equity at the end of the year was: a) $160,000 b) $175,000 c) $140,000 d) $185,000

At the beginning of the year, owners' equity totaled $150,000. During the year, net income was $45,000, and dividends of $20,000 were declared and paid. Owners' equity at the end of the year was: a) $160,000 b) $175,000 c) $140,000 d) $185,000

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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At the beginning of the year, owners' equity totaled $150,000. During the year, net income was $45,000, and dividends of $20,000 were declared and paid. Owners' equity at the end of the year was: a) $160,000 b) $175,000 c) $140,000 d) $185,000
Transcribed Image Text:At the beginning of the year, owners' equity totaled $150,000. During the year, net income was $45,000, and dividends of $20,000 were declared and paid. Owners' equity at the end of the year was: a) $160,000 b) $175,000 c) $140,000 d) $185,000
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