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A sole proprietorship had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the
A sole proprietorship had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $126,000 185,500 Liabilities $54,016 75,128 a. Owner made no investments in the business, and no withdrawals were made during the year. b. Owner made no investments in the business, but withdrew $1,000 cash per month for personal use. c. Owner made no withdrawals during the year, but the owner did invest an additional $45,000 cash. d. Owner withdrew $1,000 cash per month for personal use, and the owner invested an additional $35,000 cash.
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