At the start of the year, the balance on Sara's capital account was $55,689. During the year Sara made drawings of S16,600 and the net profit for the year was $17500.What is the balance on Sara's capital account at the end of the year?OA S56.589B. $30,069OC $4,789O D. $62,189

Lets understand the basics. For calculating ending balance of capital account, we will need to use…

At the start of the year, the balance on Sara's capital account was $55.689. During the year Sara made drawings of $16G00 and the net profit for the year was $17500. What is the balance on Sara's capital account at the end of the year? OA $56.589 B. 530,069 OC S4.789 OD $62,189

At the start of the year, the balance on Sara's capital account was $55.689. During the year Sara made drawings of $16G00 and the net profit for the year was $17500. What is the balance on Sara's capital account at the end of the year? OA $56.589 B. 530,069 OC S4.789 OD $62,189

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter28: Income Taxation Of Trusts And Estates

Section: Chapter Questions

Problem 6BCRQ

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