At the End of Its First Year of Operations, Shapiro's

question 19

Multiple Choice

At the end of its first year of operations, Shapiro's Consulting Services reported net income of
$27,000. They also had account balances of: Cash, $16,000; Office Supplies, $3,200, Equipment,
$24,000 and Accounts Receivable, $8,000. The owner's total investment for this first year was
$15,000 and the owner withdrew $2,000 for personal use. Calculate the ending balance to be reported on the Statement of Owner's Equity in the Owner's Capital account.

• A)$40,000
• B)$42,200
• C)$58,000
• D)$27,000

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Definitions:

Analog I/O

Input/Output interfaces that deal with continuous signals, allowing for the measurement and control of parameters such as temperature and pressure.

Monitoring

The process of continuously observing system performances and conditions to ensure optimal operation.

Control

Involves the regulation or manipulation of variables within a system to achieve desired outcomes or maintain a certain state of operation.

Voltages

The difference in electric potential between two points, measured in volts, which drives an electric current between those points.