Foxes Service Shop Started the Year with Total Assets of $320000

question 147

Multiple Choice

Foxes Service Shop started the year with total assets of $320000 and total liabilities of $240000. During the year the business recorded $630000 in revenues $450000 in expenses and owner drawings of $60000. Owner's equity at the end of the year was

• A) $80000.
• B) $200000.
• C) $310000.
• D) $370000.

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Definitions:

Bowel Control

The ability to manage the timing of defecation, which can be affected by various medical conditions.

Physical Maturation

describes the natural process of bodily growth and development, typically culminating in adulthood and full biological functionality.

Cephalexin

An antibiotic medication used to treat a wide variety of bacterial infections.

Loose Stools

Stools that are more liquid than solid, often indicative of digestive issues or infections.