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ACC 291T Week 5 Apply: Connectu00ae Exercise//tutorfortune.com<br><br>Click on below link to buy<br>https://tutorfortune.com/products/acc-291t-week-5-apply-connect-exercise<br><br>ACC 291T Week 5 Apply: Connectu00ae Exercise<br><br>Review the Knowledge Check in preparation for this assignment.<br><br>Complete the Week 5 Exercise in Connectu00ae.<br><br>Note: You have only one attempt available to complete this assignment.<br><br>Grades must be transferred manually to eCampus by your instructor. Donu2019t worry, this might happen after your due date<br><br>The beginning capital balance shown on a statement of owneru2019s equity is $80,000. Net income for the period is $35,000. The owner withdrew $18,000 cash from the business and made no additional investments during the period. The owneru2019s capital balance at the end of the period is<br><br>Multiple Choice<br><br>$133,000.<br><br>$97,000.<br><br>$80,000.<br><br>$63,000.<br><br>The balance of the owneru2019s drawing account is reported<br><br>Multiple Choice<br><br>in the Other Expenses section of the income statement.<br><br>on the statement of owneru2019s equity.<br><br>in the Current Assets section of the balance sheet.<br><br>in the Operating Expenses section of the income statement.<br><br>Which of the following statements is not correct?<br><br>Multiple Choice<br><br>dividing current assets by current liabilities.<br><br>adding current assets to current liabilities.<br>ACC 291T Week 5 Apply: Connectu00ae Exercise<br>Click on below link to buy<br>https://tutorfortune.com/products/acc-291t-week-5-apply-connect-exercise<br>
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ACC 291T Week 5 Apply: Connect® Exercise//tutorfortune.com Click on below link to buy https://tutorfortune.com/products/acc-291t-week-5-apply-connect-exercise A C C 2 9 1 T We e k 5 A p p l y : C o n n e c t ® E x e r c i s e R e v i e w t h e K n o w l e d g e C h e c k i n p r e p a r a t i o n f o r t h i s a s s i g n me n t . C o mp l e t e t h e We e k 5 E x e r c i s e i n C o n n e c t ® . N o t e : Y o u h a v e o n l y o n e a t t e mp t a v a i l a b l e t o c o mp l e t e t h i s a s s i g n me n t . G r a d e s mu s t b e t r a n s f e r r e d ma n u a l l y t o e C a mp u s b y y o u r i n s t r u c t o r . D o n ’ t w o r r y , t h i s mi g h t h a p p e n a f t e r y o u r d u e d a t e T h e b e g i n n i n g c a p i t a l b a l a n c e s h o w n o n a s t a t e me n t o f o w n e r ’ s e q u i t y i s $ 8 0 , 0 0 0 . N e t i n c o me f o r t h e p e r i o d i s $ 3 5 , 0 0 0 . T h e o w n e r w i t h d r e w $ 1 8 , 0 0 0 c a s h f r o m t h e b u s i n e s s a n d ma d e n o a d d i t i o n a l i n v e s t me n t s d u r i n g t h e p e r i o d . T h e o w n e r ’ s c a p i t a l b a l a n c e a t t h e e n d o f t h e p e r i o d i s Mu l t i p l e C h o i c e $ 1 3 3 , 0 0 0 . $ 9 7 , 0 0 0 . $ 8 0 , 0 0 0 . $ 6 3 , 0 0 0 . T h e b a l a n c e o f t h e o w n e r ’ s d r a w i n g a c c o u n t i s r e p o r t e d Mu l t i p l e C h o i c e i n t h e O t h e r E x p e n s e s s e c t i o n o f t h e i n c o me s t a t e me n t . o n t h e s t a t e me n t o f o w n e r ’ s e q u i t y . i n t h e C u r r e n t A s s e t s s e c t i o n o f t h e b a l a n c e s h e e t . i n t h e O p e r a t i n g E x p e n s e s s e c t i o n o f t h e i n c o me s t a t e me n t . Wh i c h o f t h e f o l l o w i n g s t a t e me n t s i s n o t c o r r e c t ? Mu l t i p l e C h o i c e
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