The Beginning Capital Balance Shown on a Statement of Owner's

question 39

Multiple Choice

The beginning capital balance shown on a statement of owner's equity is $80,000. Net income for the period is $37,000. The owner made no additional investments during the period. The owner's capital balance at the end of the period is $96,000. The amount the owner withdrew for personal use during the period is

• A)$37,000.
• B)$16,000.
• C)$80,000.
• D)$21,000.