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E1-24 Using the accounting equation (20 points) The records of Felix Company show the following at December 31, 2018: Equity: Owner contribution$ Owner withdrawal Revenues
E1-24 Using the accounting equation (20 points) The records of Felix Company show the following at December 31, 2018: Equity: Owner contribution$ Owner withdrawal Revenues Expenses Assets & Liabilities: 11,000 8,000 205,000 Beginning: Assets $ 67,000 Liabilitie:s 11,000 Ending: Assets S 46,000 Liabilities 34,000 Requirements 1.Compute the missing amount for Felix Company. You will need to work through owner'S equity. 2. id Felix earn a net income or suffer a net loss for the year? Compute the amount
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