The Net Income of Edwards Inc

question 112

Multiple Choice

The net income of Edwards Inc. amounted to $74,000 for this year. The beginning balance of Owner's Capital account was $32,000 and the ending balance was $75,000. No additional contributions to capital were made during the year. What was the amount of his withdrawals during the year?

• A)$75,000
• B)$31,000
• C)$149,000
• D)$32,000

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Service-Sponsored Retail Franchise System

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Customer-Generated Franchising System

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