At the Beginning of the Year, Beta Company's Balance Sheet

question 2

Multiple Choice

At the beginning of the year, Beta Company's balance sheet reported Total Assets of $195,000 and Total Liabilities of $75,000. During the year, the company reported total revenues of $226,000 and expenses of $175,000. Also, owner withdrawals during the year totaled $48,000. Assuming no other changes to owner's capital, the balance in the owner's capital account at the end of the year would be:

• A) $174,000.
• B) $78,000.
• C) cannot be determined from the information provided.
• D) $120,000.
• E) $123,000.

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Definitions:

Ascending Track

A progression or sequence that moves upward or increases in scale or importance.

Spinal Cord

A long, thin, tubular bundle of nervous tissue and support cells that extends from the brainstem to the lumbar region, enabling neural connections between the brain and the rest of the body.

Sensory Information

Data received by the senses, such as sight, hearing, smell, taste, or touch, which is then interpreted by the brain.

Descending Track

Neural pathways that transmit impulses from the brain down the spinal cord, influencing motor control and sensory information.