[APPENDIX] Gordon Vending, a sole proprietorship, had the following balances and transactions during 2015: beginning capital, $40,000; contribution of cash to the business by the owner, $15,000; revenue, $60,000; expenses, $35,000; withdrawal by the owner, $5,000.What is the amount of the ending capital balance?

Question

Quizplus · Accepted Answer

Beginning capital + owner's contribution + revenue - expenses - owner's withdrawal = ending capital
$40,000 + $15,000 + $60,000 - $35,000 - $5,000 = $75,000

[APPENDIX] Gordon Vending, a Sole Proprietorship, Had the Following Balances