The Net Income of Avid Camera Services Is $25,000

question 13

Multiple Choice

The net income of Avid Camera Services is $25,000.The beginning and ending owner's equity balances were $34,000 and $53,000,respectively.The owner made no additional contributions.Calculate the amount of owner's withdrawals.

• A)$16,000
• B)$6,000
• C)$9,000
• D)$8,000

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Definitions:

Newly Issued Shares

Shares that have been made available for sale for the first time, representing a portion of the corporation's equity newly offered to investors.

Share Dividend

A dividend payment made in the form of additional shares rather than cash payout to shareholders.