Determine the Expenses for the Current Period Based on the Following

question 79

Essay

Determine the expenses for the current period based on the following data: $\begin{array}{llcc} \text {Net income for the current period } &\$15,000 \\ \text { Ending owner's equity } &45,000\\ \text { Beginning owner's equity } &40,000\\ \text { Owner withdrawals } &10,000\\ \text { Revenue for the current period } &90,000\\\end{array}$

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Definitions:

Humanist

A person who adopts a philosophical and ethical stance emphasizing the value and agency of human beings, individually and collectively.

Passive

Lacking in active response or involvement; allowing or subject to action without opposition or resistance.

Environmental Circumstances

The context or conditions in one's surroundings, including social, cultural, and physical environments, that influence outcomes and opportunities.

Human Behaviour

The range of actions and mannerisms exhibited by humans in conjunction with their environment, social structures, and culture.