When calculating the closing balance of owner's equity for a business, which of the following should be added to beginning owner's equity?
A) Net income and owner's contributions
B) Assets and liabilities
C) Assets and owner's contributions
D) Owner's contributions and owner's withdrawals

Question

Quizplus · Accepted Answer

add net income + owner's contributions - withdrawals by owners

When Calculating the Closing Balance of Owner's Equity for a Business