Luis Consulting Started the Year with Total Assets of $60000

question 74

Multiple Choice

Luis Consulting started the year with total assets of $60000 and total liabilities of $17000. During the year the business recorded $48000 in consulting revenues and $36000 in expenses. Luis made an additional investment of $8000 and withdrew cash of $9000 during the year. The owner's equity at the end of the year was

• A) $33000.
• B) $54000.
• C) $57000.
• D) $63000.

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Definitions:

Appointment Cards

Physical or digital reminders provided by service providers to remind clients or patients of scheduled visits.

Cancellation

The act of calling off or nullifying an event, order, or contract.

Appointment Book

A book or electronic system used for keeping track of appointments and schedules.

Erase

To remove or delete information or marks.