At the end of the current accounting period, account balances were as follows: Cash $29,000, Accounts Receivable $44,000; Opening Owner's Capital $18,000, Net Income $11,000. Liabilities at the end of the period were: OA. $44,000 OB. $55,000 OC. $62,000. O D. $73,000.

At the end of the current accounting period, account balances were as follows: Cash $29,000, Accounts Receivable $44,000; Opening Owner's Capital $18,000, Net Income $11,000. Liabilities at the end of the period were: OA. $44,000 OB. $55,000 OC. $62,000. O D. $73,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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K
At the end of the current accounting period, account balances were as follows: Cash $29,000, Accounts Receivable
$44,000; Opening Owner's Capital $18,000, Net Income $11,000 Liabilities at the end of the period were:
OA. $44,000
OB. $55,000
OC. $62,000.
O D. $73,000.

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