Multiple Choice
Jackson's Small Engine Repair Shop, a proprietorship, started the year with total assets of $60,000 and total liabilities of $40,000. During the year, the business recorded $100,000 in repair revenues, $55,000 in expenses, and Mike Jackson, the owner, withdrew $10,000. Jackson's Capital balance at the end of the year was
A) $55,000.
B) $35,000.
C) $65,000.
D) $45,000.
Correct Answer:
Verified
Correct Answer:
Verified
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