Scott's Camera Shop Started the Year with Total Assets of $100,000

question 110

Multiple Choice

Scott's Camera Shop started the year with total assets of $100,000 and total liabilities of $50,000. During the year, the business earned revenues of $200,000 and incurred expenses of $60,000. Scott made no capital contributions during the year, but did make withdrawals of $75,000. Calculate the amount of increase/decrease in Scott's equity for the year.

• A)$65,000 increase
• B)$115,000 increase
• C)$50,000 decrease
• D)$75,000 increase

---

Definitions:

Chromosome Number

The total number of chromosomes present in the nucleus of a cell, characteristic of each species.

Daughter Cell

A cell that results from the division of a single parent cell, inheriting the genetic material of the parent.

Mitosis

A form of cellular division leading to the creation of two offspring cells, both possessing an identical number and type of chromosomes found in the parent nucleus, usually observed during normal tissue development.

Chromosome Number

The total count of chromosomes within the cell nucleus of a species, crucial for genetic stability and reproduction.