[APPENDIX] Gordon Vending, a Sole Proprietorship, Had the Following Balances

question 55

Multiple Choice

[APPENDIX] Gordon Vending, a sole proprietorship, had the following balances and transactions during 2015: beginning capital, $40,000; contribution of cash to the business by the owner, $15,000; revenue, $60,000; expenses, $35,000; withdrawal by the owner, $5,000.What is the amount of the ending capital balance?

• A)$40,000
• B)$60,000
• C)$75,000
• D)$85,000

Identify differences in reproductive strategies between placental and marsupial mammals.

Grasp the significance of gene and promoter duplication in evolutionary experiments.

Interpret phylogenetic trees and the evolutionary implications regarding the nervous system.

Understand the evolution of the complex eye through different mechanisms such as convergent evolution, common ancestry, and deep homology.

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Definitions:

Current Obligations

Short-term financial liabilities or debts that are due within one year or within the normal operating cycle of a business.

Firm's Operations

The day-to-day activities involved in the running of a business for the purpose of producing value for the stakeholders.

Quick Ratio

An indicator of a firm's capacity to fulfill its immediate liabilities using its most easily convertible assets.

Debt-Equity Ratio

A measure of a company's financial leverage, calculated by dividing its total liabilities by its shareholder equity, indicating the extent to which it is financing its operations through debt.