Question

et red - N ICO * Fundamental Accounting Principles, 24e TA Progress 58% 7 O Multiple Choice Question Given that Jacob's Chocolates had ownervestments of $4000 net income during the peod of $10,000 and we withdrawal of $300 calculate the onding balance in the Owner's Capital account $54,300 O $0.300 O $100 Confidence Level

Answer 1

Ending capital balance = Beginning capital balance + Net income - Withdrawals

Ending capital balance = $4,000 + $10,000 - $300

Ending capital balance = $13,700