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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