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5) Ahmets Camera Shop started the year with total assets of $80,000 and total liabilities of $40,000. During the year, the b
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Answer #1

Answer: A) $10,000 decrease

.

Net income = Revenue - Expenses = $120,000 - $70,000 = $50,000

The net change in owners equity = Net income - Withdrawals = $50,000 - $60,000 = ($10,000)

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