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If beginning capital was $25,000, ending capital is $37,000, and the owner's withdrawals were $23,000.?

the amount of net income or net loss for the period was:

a. net loss of $35,000

b. net income of $35,000

c. net income of $14,000

d. net loss of $14,000

e. none of the options listed 

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Question ajoutée par Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants
Date de publication: 2015/07/16
Sam Younes
par Sam Younes , Senior Budget & Financial Analyst , Haulotte BilJax

If the increase in capital is STRICTLY from operations, it would be a net income of $35K.

Ahmed kandil
par Ahmed kandil , Cost Controller , Battour Holding Cpompany

Correct answer is B thank you

Gayasuddin Mohammed
par Gayasuddin Mohammed , Advocate , Practicing Law before High Court at Hyderabad

23K+37K-25K=35K

b. net income of $35,000 -> net profit of $35000, right?

Umer Sharif
par Umer Sharif , Head Of Accounts Dept , Allied Petroleum Pvt Ltd

35K profit is the right answer............

Michael Lagunday
par Michael Lagunday , Accounts Assistant , Invest Group Overseas LLC

The answer is B. net income of $35,000.

Md. Omar Faruq
par Md. Omar Faruq , Manager-Accounts & Finance , The Rani Re-Rolling Mills Limited.

Computation of profit: Opening Capital($.25,000)+Net Profit-Withdraw($23000)=Ending Capital($37000), So, Net profit will be $35000

The correct answer is option-B

Muhammad Iqbal
par Muhammad Iqbal , Manager Accounts , Fazal e haq restaurant and catereing services

Net incom is $35000, because increase in ending capital

Said Shaban
par Said Shaban , Accountant , Tri State Materials Testing

The answer is B

Beg. Balance + Net Income - Withdrawals = Ending Balance

Net income of $35000 is the amount of total period. 

kasim Abdul Halik
par kasim Abdul Halik , Payroll Accountant , MEA Resource Solutions (Cupola Group)

Option c is right answer, Net income14,000

net income  of35000    of this business             

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