After closing the revenue, expense, and withdrawal accounts, the capital increased by $2,000. Which of the following
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Question:
- After closing the revenue, expense, and withdrawal accounts, the capital increased by $2,000. Which of the following situations could have occurred?
- A) The owner made withdrawals.
- B) The company had a net income of $5,000.
- C) The owner invested an additional amount.
- D) All of these answers are correct.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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