Gordon Vending, a Sole Proprietorship, Had the Following Balances and Transactions

question 47

Multiple Choice

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

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