At the End of Its First Month of Operations,Michael's Consulting

question 95

Multiple Choice

At the end of its first month of operations,Michael's Consulting Services reported net income of $25,000.They also had account balances of: Cash,$18,000;Office Supplies,$2,000 and Accounts Receivable $10,000.The owner's total investment for this first month was $5,000. Calculate the ending balance in the Owner's Capital account to be reported on the Statement of Owner's Equity.

• A)$30,000
• B)$25,000
• C)$20,000
• D)$5,000
• E)$7,000

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Definitions:

Theory-Based Intervention

An approach to designing and implementing interventions based on established theoretical frameworks to predict and influence behavior changes.

Diabetes Prevention

Strategies and interventions aimed at reducing the risk of developing type 2 diabetes through lifestyle modifications.

Effective Dietary Methods

Strategies and practices that are proven to improve nutrition and promote healthy eating habits.

Carb Count

A dietary technique focusing on counting carbohydrate grams consumed to manage blood sugar levels, particularly in diabetes management.