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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Summarizing Information

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