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What would be the ending balance on the statement of changes

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Question - Paula prepared a statement of changes in owner's equity to determine the possibility of opening more locations for her car wash business. She used the following totals to help in her calculations:

Beginning Balance = $120,000

Cash = $5,000

Revenues = $10,000

Capital added = $10,000

Net income = $30,000

Expenses = $40,000

Owner's Withdrawals = $115,000

Required - What would be the ending balance on the Statement of Changes of Equity given this data?

a) $45,000

b) $50,000

c) $55,000

d) $15,000

Reference no: EM133036585

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