Dina Kader Withdrew a Total of $35,000 from Her Business

question 76

Multiple Choice

Dina Kader withdrew a total of $35,000 from her business during the current year. The entry needed to close the withdrawals account is:

• A) Debit Income Summary and credit Cash for $35,000.
• B) Debit Dina Kader, Withdrawals and credit Cash for $35,000.
• C) Debit Income Summary and credit Dina Kader, Withdrawals for $35,000.
• D) Debit Dina Kader, Capital and credit Dina Kader, Withdrawals for $35,000.
• E) Debit Dina Kader, Withdrawals and credit Dina Kader, Capital for $35,000.

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Definitions:

Normal Distribution

A distribution of probability centered around its mean, highlighting that occurrences close to the mean happen more often than those far from it.

Semi-strong Form Efficiency

A form of market efficiency that posits all publicly available information is fully reflected in stock prices, including historical financial data and current news.

Stock Price

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Trading Day

A day on which stock markets are open for trading.