On January 1 of the Current Year,Jimmy's Sandwich Company Reported

question 158

Multiple Choice

On January 1 of the current year,Jimmy's Sandwich Company reported owner's capital totaling $122,500.During the current year,total revenues were $96,000 while total expenses were $85,500.Also,during the current year Jimmy withdrew $20,000 from the company.No other changes in equity occurred during the year.If,on December 31 of the current year,total assets are $196,000,the change in owner's capital during the year was:

• A)A decrease of $9,500.
• B)An increase of $9,500.
• C)An increase of $30,500.
• D)A decrease of $30,500.
• E)An increase of $73,500.

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Definitions:

Occupational Hazard

Risks or dangers that are inherent to a specific job or workplace, potentially causing injury or illness to employees.

Spillover

Stress experienced at work or in the family is carried over into the other domain.

Self-Estrangement

A psychological state in which individuals feel disconnected or alienated from their own self or identity.

Assembly Line

An assembly line is a manufacturing process in which parts are added to a product in a sequential manner to create a finished product efficiently.