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Accounting equation: Assets = Liabilities + Equity Equity equation: Capital, Beginning + Owner contribution + Net income or - Net loss - Owner withdrawal =
Accounting equation:
Assets Liabilities Equity
Equity equation:
Capital, Beginning Owner contribution Net income or Net loss Owner withdrawal Capital, Ending
Part
For each of the following situations with regard to owner's contributions and withdrawals of the business, compute the amount of net income or net loss during June Use a minus sign or parentheses for a net loss.
a The owner contributed $ comma to the business and made no withdrawals.
Net income loss is
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