Cragmont Has Beginning Equity of $277,000, Net Income of $63,000

question 65

Multiple Choice

Cragmont has beginning equity of $277,000, net income of $63,000, withdrawals of $25,000 and no additional investments by owners during the period. Its ending equity is:

• A) $189,000.
• B) $315,000.
• C) $365,000.
• D) $239,000.
• E) $277,000.

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