The balance of James Wilson, Capital at the beginning of the period was $50,000. During the period,
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The balance of James Wilson, Capital at the beginning of the period was $50,000. During the period, his company had net income of $40,000, and he withdrew $35,000 from the business for personal use. What is the amount of the James Wilson, Capital account at the end of the accounting period?
a. $125,000
b. $5,000
c. $45,000
d. $55,000
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Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
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