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determine the net income for June which is 4,800 Determine the owners equity on June 30 is I've already did the first and the second
determine the net income for June which is 4,800
Determine the owners equity on June 30 is
I've already did the first and the second part of the question I just need the answer for June 30th
this is the second part of the question
owner's withdrawals and expenses. 3. Determine the net income for June. 4. Determine the owner's equity on June 30. x Feedback Check My Work 1. Review Transactions (a) to (h) summarized in Exhibit 5 in the text. Recall that the effect of every transaction must mo 2. Owner's equity represents the rights of owners. Additional investments and revenues increase the rights of the owner owner's equity decreases. b. Punchased office supvilies on arcourit, $2,320. d. Paid rent on office and equipment for the morith, $2,550. e. Paid creditors on amount, 31,950 . f. Balled customers for fees camed for managing rental proverty, 55,230. h. Paid office saiaries, 32,010 . 3. Withidrew cash for personal use, $1,900. 2. Owner's equity is the right of owners to the assets of the business. These rights are increased by owner's investments and revenues and decreased by owner's withdrawals and expenses. 3. Determine the net income for June. 4. Determine the owner's equity on June 30. Feedback T Check My Work 1. Review Transactions (a) to (h) summarized in Exhibit 5 in the text. Recall that the effect of every transaction must modify the accounting equation, yet cause it to remain in balance overall. 2. Owner's equity represents the rights of owners. Additional investments and revenues increase the rights of the owner. When the owner removes funds (a withdrawal) and pays expenses, the owner's equity decreases
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