MCQs > Finance & Management > Financial Accounting > If beginning capital was $25,000, ending capital is $37,000, and the owner's withdrawals were $23,000, the amount of net income or net loss for the period was:

Financial Accounting MCQs

If beginning capital was $25,000, ending capital is $37,000, and the owner's withdrawals were $23,000, the amount of net income or net loss for the period was:

Answer

Correct Answer: Net income of $35,000

Explanation:

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