The Net Income of Harriet Company for the Year Is

question 118

Multiple Choice

The net income of Harriet Company for the year is $25,000.The owner made withdrawals during the year of $30,000.Which of the following statements is true?

• A)Owner,Capital account decreases by $25,000.
• B)Owner,Capital account decreases by $5,000.
• C)Owner,Capital account increases by $30,000.
• D)Owner,Capital will remain the same.

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Definitions:

U.S. Census Bureau

The federal agency responsible for collecting and analyzing data about the American people and economy.

\(203.0(1.0107)^t\)

This expression models exponential growth or decay, depending on the context, where 203.0 is the initial quantity, 1.0107 represents the growth (or decay) rate, and \(t\) is the time variable.

Composition

The way in which a whole or mixture is made up from various parts, or in mathematics, the application of one function to another.

\(4x+5\)

A linear expression representing a line with a slope of 4 and a y-intercept of 5.