The net income of a business is $29,000. The beginning and ending capital balances were $34,000 and $55,000, respectively. No capital contributions were made by the owner during the year. Calculate the amount of owner's withdrawals.
A)$18,000
B)$8,000
C)$5,000
D)$60,000

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The Answer of The net income of a business is $29,000. The beginning and ending capital balances were $34,000 and $55,000, respectively. No capital contributions were made by the owner during the year. Calculate the amount of owner's withdrawals.
A)$18,000
B)$8,000
C)$5,000
D)$60,000

The Net Income of a Business Is $29,000