Multiple Choice
Tarr, a sole proprietorship, had the following balances and transactions during 2016: beginning capital, $40,000; contribution of cash to the business by the owner, $15,000; revenue, $60,000; expenses, $35,000; withdrawal by the owner, $5,000.What is the amount of the ending capital balance?
A) $40,000
B) $60,000
C) $75,000
D) $85,000
Correct Answer:
Verified
Correct Answer:
Verified
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