At the beginning of 2009, a company's balance sheet reported the following balances: Total Assets = $125,000; Total Liabilities = $75,000; and Owner's Capital = $50,000. During 2009, the company reported revenues of $46,000 and expenses of $30,000. In addition, owner's withdrawals for the year totaled $20,000. Assuming no other changes to owner's capital, the balance in the owner's capital account at the end of 2009 would be:
a. $66,000.
b. $86,000.
c. $(4,000).
d. $46,000.
e. Cannot be determined from the information provided.
Answer: a. $66,000.
Business
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