I want to correct answer general accounting Sarah's Flower Shop, a proprietorship, began the year with total assetsof $75,000 and total liabilities of $45,000. During the year, thebusiness recorded $125,000 in sales revenue, $68,000 in expenses,and Sarah withdrew $12,000 for personal use. Sarah's capital balanceat the end of the year was:a) $75,000b) $70,000c) $65,000d) $80,000

Beginning Capital:Total Assets = $75,000Total Liabilities = $45,000Beginning Capital = Total Assets…

Answered: Sarah's Flower Shop, a proprietorship,…

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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