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Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indi Assets
Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indi Assets Liabilities Beginning of the year $ 92,500 End of the year 152,000 $ 39,655 61.560 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 did withdraw $11,400 during the year. c. Owner made no withdrawals during the year, but the owner did invest an additional $45,000 cash. d. Owner withdrew $11,400 during the year, but the owner did invest an additional $35,000 cash near year-end. Determine net income or net loss for the business during the year for each of the above separate cases (Decreases in equity should be indicated with a minus sign.) Answer is complete but not entirely correct. b. C. d. Beginning of the year-Equity $ 92,500 $ 92,500 $ 92,500 $ 92,500 Owner investments 09 45,000 35,000 Owner withdrawals Net income (loss) 00 (11,400) 0 (11.400) 0 51,055 (5,345) 63.255 End of the year-Equity $ 92.500 S 92,500 $ 92,500 S 92,500 < Prev 3 of 8 Next >
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