The net income of Harriet Company for the year is $25,000.The owner made withdrawals during the year of $30,000.Which of the following statements is true?
A)Owner,Capital account decreases by $25,000.
B)Owner,Capital account decreases by $5,000.
C)Owner,Capital account increases by $30,000.
D)Owner,Capital will remain the same.

Question

Quizplus · Accepted Answer

B)
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The Net Income of Harriet Company for the Year Is