Beginning Owner's Capital Is $20,000

question 119

Multiple Choice

Beginning owner's capital is $20,000.No capital contributions were made during the year.Drawings were $7,000.Ending owner's capital is $37,000.What was net income?

• A) $24,000
• B) $13,000
• C) $10,000
• D) $27,000

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Definitions:

Tai Chi

A Chinese martial art practiced for both its defense training aspects and its health benefits, emphasizing fluid movement and mental calmness.

Movement Discipline

A field of study or practice focusing on the control and mastery of body movements, often within the context of sports, dance, or martial arts.

Chinese

Referring to anything related to China, including its language, culture, or people.

Flexibility

The ability of joints to move through their full range of motion and the elasticity of muscles and connective tissues.