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Question
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.
Answer
This answer is hidden. It contains 154 characters.
Related questions
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