At January 1, 2010, LeAnna Industries Reported Owner's Equity of $130,000

question 170

Multiple Choice

At January 1, 2010, LeAnna Industries reported owner's equity of $130,000. During 2010, LeAnna had a net loss of $30,000 and owner drawings of $20,000. At December 31, 2010, the amount of owner's equity is

• A) $130,000.
• B) $140,000.
• C) $100,000.
• D) $80,000.