Hollywood Talent Services Is a Sole Proprietorship Operated by Phil

question 223

Multiple Choice

Hollywood Talent Services is a sole proprietorship operated by Phil Morris.The net income of Hollywood Talent Services is $23,000 for the year.The beginning and ending Morris,Capital account was $33,000 and $50,000,respectively.During the year,there were no new capital contributions.Calculate the amount of the owner's withdrawals for the year.

• A) $16,000
• B) $6,000
• C) $10,000
• D) $9,000