Blair Scott started a sole proprietorship by depositing $75,000 cash in a business checking account. During the accounting period, the business borrowed $30,000 from a bank, earned $18,000 of net income, and Scott withdrew $12,000 cash from the business. Based on this information, what is the balance in Scott's capital account at the end of the accounting period?
A. $81,000
B. $111,000
C. $93,000
D. $72,000
Answer: A
You might also like to view...
______ is a necessary and distinguishing characteristic of successful organizations.
a. Training and development departments b. Organizational change c. Organizational culture d. Conflict resolution
Traditionally, risk has been defined as
A) any situation in which the probability of loss is one. B) any situation in which the probability of loss is zero. C) uncertainty concerning the occurrence of loss. D) the probability of a loss occurring.
An advertiser whose message is placed in the middle of five consecutive commercials during a program break faces the problem of
A. flighting. B. clutter. C. media bombardment. D. media flooding. E. information overload.
When management realizes that its current practices are no longer appropriate and that the company must break out of its present mold by doing things differently, this is known as the ________ stage of motivating change.
A. refreezing B. mobilizing C. stabilizing D. moving E. unfreezing