The net income of Edwards Corporation amounted to $75,000 for this year. The beginning balance of owner's
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Question:
The net income of Edwards Corporation amounted to $75,000 for this year. The beginning balance of owner's equity was $30,000 and the ending balance was $72,000. The company received no new contributions during the year. What was the amount of the owner's withdrawals during the year?
$72,000
$33,000
$147,000
$30,000
Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
Posted Date: