Question

Jenna brought in $25,000 to her startup firm at the beginning of the year. During the year, she withdrew $2,500 for her personal expenses. The business earned $10,000 at the end of the accounting period after paying off all its expenses. What is the value of Jenna’s capital account at the end of the accounting year?

A. $25,000
B. $22,500
C. $35,000
D. $32,500

Answer 1

Explanation:

I would have to go with D. The 25,000 is what you start with minus the 2,500 she withdrew which would leave her at 22,500. She then receives 10,000 for the business leaving her with 32,500

Answer 2

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➷ 25,000 - 2500 = 22500

22500 + 10,000 = 32,500

The correct answer would be option D. $32,500

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