The Total Assets and the Total Liabilities of Ty Williams

question 55

Multiple Choice

The total assets and the total liabilities of Ty Williams Financial Services,are shown below.During the year,the proprietor made no additional capital contributions,and took drawings of $15,000. $\begin{array}{|l|r|r|} \hline& \text { Assets } & \text { Liabilities } \\\hline \text { Beginning of year } & \$ 395,000 & \$ 290,000 \\\hline \text { End of year } & 455,000 & 320,000\\\hline\end{array}$ What was the amount of net income for the year?

• A) $85,000
• B) $40,000
• C) $45,000
• D) $135,000

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Definitions:

Average Frequency

A statistical measure referring to the common occurring rate or number of times an event happens within a specific period.

Sexual Attractiveness

The qualities or attributes that an individual finds appealing or arousing in a potential sexual or romantic partner.

Older Individuals

Refers to people who are advanced in age, typically considered to be those in the later stages of their life or those who are past the middle age.

Fertility

The natural capability to produce offspring, often involving the production of healthy eggs and sperm, and the ability of these gametes to unite and grow into a new organism.