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Completely lost with this account questions if you can assist me that would be great! Beginning of Year: End of Year: Assets $25,000 $61 ,ooo
Completely lost with this account questions if you can assist me that would be great!
Beginning of Year: End of Year: Assets $25,000 $61 ,ooo Liabilities $1 7,000 $29,000 1) What is the equity at the beginning of the year? Beginning Equity 8000 3) If the owner contributes $8,600 and the owner withdraws $40,400, how much is net income (loss)? Net Income (Loss) 5) If the owner contributes $18,400 and net income is $15,600, how much did the owner withdraw (owner, withdrawals)? Owner, Withdrawals 2) What is the equity at the end of the year? Ending Equity 32000 4) If net income is $1 , 200 and owner withdrawals are $8,700, how much did the owner contribute (owner, capital)? Owner, Capital -7,500 6) If the owner contributes $42,600 and the owner withdraws $4,800, how much is net income (loss)? Net Income (Loss)
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