At January 1, 2020, Croc Industries Reported Owner's Capital of $140,000

question 198

Multiple Choice

At January 1, 2020, Croc Industries reported owner's capital of $140,000. During 2020, Croc had a net loss of $30,000 and owner drawings of $15,000. At December 31, 2020, the amount of owner's capital is

• A) $ 95,000.
• B) $110,000.
• C) $125,000.
• D) $155,000.

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Definitions:

Hazing

A process involving tasks or activities that are potentially harmful or humiliating, used as a way of initiating a person into a group.

Group Development

The process through which a group evolves over time, including stages of forming, storming, norming, performing, and adjourning.

Conflict

A situation or process where there is a disagreement, opposition, or struggle between two or more parties that can arise from differing needs, values, or interests.

Group Interaction

The manner in which members of a group communicate, share information, and work together.