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April 18, 2014

Homework Help: accounting 205

Posted by bernagene on Sunday, July 15, 2012 at 4:28pm.

Net income for the year is $25,000. Withdrawals of $36,000 per were taken at the end of the year. Which of the following occurs? (Points : 1)
The Capital account decreases by $22,000.
The Capital account decreases by $11,000.
The Capital account increases by $11,000.
The Capital account increases by $22,000.

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