The profit made by a business in 20X2 was $35,400. The proprietor injected new capital of $10,200 during the year and withdrew a monthly salary of $500. If net assets at the end of 20X2 were $95,100, what was the proprietor's capital at the beginning of the year? A. $50,000 B. $55,500 C. $63,900 D. $134,700

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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AaBb
ThE
The profit made by a business in 20X2 was $35,400. The proprietor injected new capital of
$10,200 during the year and withdrew a monthly salary of $500. If net assets at the end of 20X2
were $95,100, what was the proprietor's capital at the beginning of the year?
A.
$50,000
В.
$55,500
С.
$63,900
D.
$134,700
Questi
Transcribed Image Text:AaBb ThE The profit made by a business in 20X2 was $35,400. The proprietor injected new capital of $10,200 during the year and withdrew a monthly salary of $500. If net assets at the end of 20X2 were $95,100, what was the proprietor's capital at the beginning of the year? A. $50,000 В. $55,500 С. $63,900 D. $134,700 Questi
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