The Income Statement for the Year 2010 of Poole Co

question 36

Multiple Choice

The income statement for the year 2010 of Poole Co. contains the following information: At January 1, 2010, Poole reported owner's equity of $50,000. Owner drawings for the year totalled $10,000. At December 31, 2010, the company will report owner's equity of

• A) $13,500.
• B) $36,500.
• C) $40,000.
• D) $43,500.

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Definitions:

Marsupials

A group of mammals characterized by giving birth to relatively undeveloped young that typically complete their development in a pouch on the mother's body.

Depth Perception

The ability to perceive the world in three dimensions and judge the distance of objects.

Predatory Behavior

Actions or strategies employed by predators to catch their prey, often involving stalking, camouflage, and ambush.

Color Seeing

The ability of organisms, particularly humans, to distinguish objects based on the wavelengths of the light they reflect, emit, or transmit.