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.

---

Definitions:

Technical Skills

The specific knowledge and abilities required to perform tasks related to technology or specific fields of work.

Information Technology

The use of computers, software, networks, and other electronic devices to store, process, retrieve, transmit, and protect information.

Success

The achievement of an aim or goal, often measured by performance outcomes, personal satisfaction, or recognition.

General Cognitive Ability

General Cognitive Ability refers to a person's overall capacity of mental processes, encompassing reasoning, problem-solving, planning, abstract thinking, complex idea comprehension, learning quickly, and learning from experience.