A Merchandiser Uses a Perpetual Inventory System

question 21

Multiple Choice

A merchandiser uses a perpetual inventory system.The beginning Owner,Capital balance of the merchandiser was $120,000.During the year,Sales Revenue amounted to $80,000,Cost of Goods Sold was $45,000,and all other expenses totaled $12,000.Owner withdrawals were $27,000.There were no new capital contributions during the year.The ending balance of Owner,Capital would be ________.

• A) $143,000
• B) $116,000
• C) $170,000
• D) $120,000

---

Definitions:

Growth

The process of increasing in size, magnitude, or complexity, often used in reference to personal development, economic expansion, or biological increase.

Competence Stage

A phase in skill acquisition where individuals have gained enough knowledge and ability to perform certain tasks reliably, but not yet effortlessly.

Complacency

A feeling of smug or uncritical satisfaction with oneself or one’s achievements, often leading to a lack of effort or creativity.

Achievement-related Anxiety

The fear or nervousness related to the possibility of not meeting set standards or goals, impacting performance.