The beginning capital balance shown on a statement of owner's equity is $120,000. Net income for the period is $45,000. The owner withdrew $25,000 cash from the business and made no additional investments during the period. The owner's capital balance at the end of the period is

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The beginning capital balance shown on a statement of owner's
equity is $120,000. Net income for the period is $45,000. The owner
withdrew $25,000 cash from the business and made no additional
investments during the period. The owner's capital balance at the
end of the period is
Transcribed Image Text:The beginning capital balance shown on a statement of owner's equity is $120,000. Net income for the period is $45,000. The owner withdrew $25,000 cash from the business and made no additional investments during the period. The owner's capital balance at the end of the period is
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