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Q. Scott's Camera Shop started the year through total assets of $80,000 also total liabilities of $40,000. During the year, the business earned revenues of $120,000 also incurred expenses of $70,000. Scott made no capital contributions during the year, but did make withdrawals of $60,000. Illustrate what is the amount of Scott's owner's equity at the end of the year?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9346272

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