Question
can anyone help me answer this? Assets Liabilities Beginning of Year: $25,000 $15,000 End of Year: $64,000 $28,000 1) What is the equity at the
can anyone help me answer this?
Assets | Liabilities | |
---|---|---|
Beginning of Year: | $25,000 | $15,000 |
End of Year: | $64,000 | $28,000 |
1) What is the equity at the beginning of the year?
Beginning Equity
2) What is the equity at the end of the year?
Ending Equity
3) If the owner contributes $6,300 and the owner withdraws $40,000, how much is net income (loss)?
Net Income (Loss)
4) If net income is $2,900 and owner withdrawals are $7,100, how much did the owner contribute (owner, capital)?
Owner, Capital
5) If the owner contributes $19,300 and net income is $19,000, how much did the owner withdraw (owner, withdrawals)?
Owner, Withdrawals
6) If the owner contributes $41,000 and the owner withdraws $4,400, how much is net income (loss)?
Net Income (Loss)
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