On January 1 of the Current Year, Bob's Lawn Care

question 26

Multiple Choice

On January 1 of the current year, Bob's Lawn Care Service reported owner's capital totaling $122,500. During the current year, total revenues were $96,000 while total expenses were $85,500. Also, during the current year Bob withdrew $20,000 from the company. No other changes in equity occurred during the year. If, on December 31 of the current year, total assets are $196,000, the change in owner's capital during the year was:

• A) A decrease of $9,500.
• B) An increase of $9,500.
• C) An increase of $30,500.
• D) A decrease of $30,500.
• E) Impossible to determine from the information provideD.During the year, revenues were $96,000 while expenses were $85,500 and withdrawals were $20,000. Since there were no other changes in equity, equity must have decreased by $9,500.

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Definitions:

Job Analysis

A systematic process of collecting and examining information about a job's content and the qualities required to perform it effectively.

Job Enrichment

The process of making a job more rewarding, challenging, and interesting by adding responsibilities or new tasks that increase the worker's control or participation.

Rewarding

The act of providing incentives or compensation to employees as recognition for their work performance, contribution, or achievement, aiming to motivate and retain talent.

Meaningful Tasks

Work or responsibilities that have significance or purpose, contributing positively to one's job satisfaction or personal fulfillment.