The following amounts are reported in the ledger of Bowers Company: Assets: $40,000 debit; Liabilities: $18,000 credit; Retained earnings: $6,000 credit. What is the balance in the contributed capital account?

A. $22,000 credit.
B. $16,000 credit.
C. $24,000 credit.
D. $22,000 debit.

Ans: B. $16,000 credit.

Business

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