Tyrone Gonzales Started a Sole Proprietorship by Depositing $30,000 Cash

question 94

Multiple Choice

Tyrone Gonzales started a sole proprietorship by depositing $30,000 cash in a business checking account. During the accounting period the business earned $16,000 of net income and Gonzales withdrew $10,000 cash from the business. Based on this information, at the end of the accounting period, Gonzales' capital account contained a balance of:

• A) $28,000.
• B) $30,000.
• C) $34,000.
• D) $36,000.

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Definitions:

Hypothalamus

A region of the brain that controls an enormous number of bodily functions including hunger, thirst, sleep, and emotional activity.

Consciousness

The condition in which a person is conscious and can reflect on their own being, feelings, ideas, environment, and life events.

Suprachiasmatic Nucleus

A region in the brain's hypothalamus responsible for controlling circadian rhythms, including the sleep-wake cycle.

Circadian Cycle

The biological clock of living beings, regulating physiological and metabolic processes in a roughly 24-hour cycle.