Question

Crane’s Electronic Repair Shop started the year with total assets of $303000 and total liabilities of...

Crane’s Electronic Repair Shop started the year with total assets of $303000 and total liabilities of $208000. During the year, the business recorded $504000 in electronic repair revenues, $305000 in expenses, and Crane withdrew $49700. Crane's Owner’s Capital balance at the end of the year was

$538300.
$244300.
$294000.
$199000.
Business   Accounting   
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Answer #1
Option (B) is correct
Stockholders equity at the end of Year :
(303000-208000)+(504000-305000)-49700
$                                                                        2,44,300
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