On a statement of owner's equity,beginning capital is $30,000,Net Income for the year is $11,000 and Drawing for the year is $6,000,the ending capital amount would be
A) $30,000.
B) $35,000.
C) $47,000.
D) $25,000.

Question

Quizplus · Accepted Answer

The ending capital is calculated by adding the net income to the beginning capital and then subtracting the drawings: $30,000 + $11,000 - $6,000 = $35,000.

On a Statement of Owner's Equity,beginning Capital Is $30,000,Net Income