The owner's equity in a business amounted to $76,000 at the beginning of the year and $135,000 at the end of the year. The owner had made no additional investments and had withdrawn $39,000 during the year. The net income for the year amounted to: A) $98,000 B) $91,000 C) $82,000 D) $87,000

The owner's equity in a business amounted to $76,000 at the beginning of the year and $135,000 at the end of the year. The owner had made no additional investments and had withdrawn $39,000 during the year. The net income for the year amounted to: A) $98,000 B) $91,000 C) $82,000 D) $87,000

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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Question

General accounting MCQ

The owner's equity in a business amounted to $76,000 at the
beginning of the year and $135,000 at the end of the year. The
owner had made no additional investments and had withdrawn
$39,000 during the year. The net income for the year amounted
to:
A) $98,000
B) $91,000
C) $82,000
D) $87,000

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