What body has the authority, but might lack the time and expertise to make the necessary rules to govern the operations of complex areas of social and economic life, such as energy, taxation, transportation, environmental pollution, employee safety, and communication (and so might delegate that power to an administrative agency)?
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On january 1 of the current year, jimmy's sandwich company reported owner's capital totaling $128,000. during the current year, total revenues were $106,000 while total expenses were $95,500. also, during the current year jimmy withdrew $30,000 from the company. no other changes in equity occurred during the year. if, on december 31 of the current year, total assets are $206,000, the change in owner's capital during the year was:
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