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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Definitions:

Defined

Clearly characterized or delineated; having a clear description or boundary.

Blended Families

A family structure comprising of parents and their children from previous relationships together with any children they may have together.

Functionalism

A theoretical perspective in sociology and anthropology that explains social institutions and their roles in maintaining or disrupting social order.

Structural Changes

Alterations or transformations in the organizational, economic, or social structure of a system or society.