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What was the company net income or loss for the period

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Question - A company began the accounting period with $50,000 in owner's capital, ended with $75,000 in owner's capital, and the owner withdrew $30,000 during the period for personal use. What was the company's net income or loss for the period?

A. $55,000 net income

B. $30,000 net loss

C. $5,000 net loss

D. $5,000 net income

E. None of the options listed

Reference no: EM132597135

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