Delta Company Reports the Following Balance Sheet Information for 2014

question 37

Multiple Choice

Delta Company reports the following balance sheet information for 2014.
1 January 2014 31 December 2014
Assets $60 000 $70 000
Liabilities $12 000 $14 000
Assuming the capital contribution made by the owners during 2011 was $3000 and withdrawals were $12 000,profit for 2014 must have been:

• A)$17 000.
• B)$14 000.
• C)$16 000.
• D)$12 000.

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Definitions:

Coercion

The act of persuading someone to do something by forcing or threatening them.

Subordinates

Individuals who are under the authority and direction of a higher-ranking manager or leader within an organization.

Illegal Activities

Actions or conduct that are forbidden by law and subject to criminal penalties or sanctions.

Ingratiation

A psychological technique wherein an individual attempts to become more attractive or likable to their target, often through flattery or other acts of kindness.