The Beginning Balance in the Owner,Capital Account of a Company

question 169

True/False

The beginning balance in the Owner,Capital account of a company was $12,000.The revenues and expenses were $240,000 and $140,000,respectively.During the year,the owner made withdrawals of $6,000.The ending balance in Owner,Capital was $112,000.(Assume the owner made no new contributions during the year. )

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Definitions:

Photosystem II

A complex of proteins and pigments in chloroplasts that captures light energy for use in photosynthesis, generating oxygen and driving electron transport.

Photosynthesis

The process by which green plants, algae, and some bacteria convert light energy, usually from the sun, into chemical energy stored in glucose, producing oxygen as a byproduct.

Aerobic Life

Life forms that require oxygen for their metabolic processes, typically through respiration, to produce energy.

Calvin Cycle

A series of biochemical reactions that take place in the chloroplasts of photosynthetic organisms to synthesize glucose.