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The Owners' Equity for the Deer Store Was $58,900 at the Beginning

Question 75

Multiple Choice

The owners' equity for The Deer Store was $58,900 at the beginning of the year.During the year,the company had aftertax income of $4,200,of which $3,200 was paid in dividends.Also during the year,the company repurchased $6,500 of stock from one of the shareholders.What is the value of the owners' equity at year end?


A) $53,400
B) $45,000
C) $59,900
D) $84,400
E) $90,900

Correct Answer:

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