16. If the amount of net income for the current period exceeds the amount ofowner's withdrawals, there will be a(n):a. decrease in the cash accountb. increase in the owner's capital accountdecrease in the owner's capital accountd. increase in the cash accountC.

Following table shows the calculation of ending balance of owner's capital account : Particulars…

Answered: 16. If the amount of net income for the…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 13MC: Which of the following would be included in the financing section? A. loss on sale of investments B....

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16. If the amount of net income for the current period exceeds the amount of owner's withdrawals, there will be a(n): a. decrease in the cash account b. increase in the owner's capital account decrease in the owner's capital account d. increase in the cash account с.