The beginning capital balance shown on a statement of owner's equity is $48,000. Net income for...
The beginning capital balance shown on a statement of owner's equity is $48,000. Net income for the period is $14,500 and the owner withdrew $18,500 cash from the business and made no additional investments during the period. The owner's capital balance at the end of the period is
Multiple Choice
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$62,500.
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$52,000.
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$81,000.
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$44,000.
Homework Answers
Capital Balance at end = Capital Balance at beginning + Net income for the period + Additional Investment - Dividend paid - Withdrawals
= 48,000 + 14,500 - 18,500
= $44,000
Hence, the answer is $44,000
Add Answer to:
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