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For each of the following situations with regard to owner's contributions and withdrawals of the business, compute the amount of net income or net loss
For each of the following situations with regard to owner's contributions and withdrawals of the business, compute the amount of net income or net loss during June 2018. (Use a minus sign or parentheses for a net loss.) a. The owner contributed $20,000 to the business and made no withdrawals. Net income (loss) = $ 4,000 b. The owner made no contributions. The owner withdrew cash of $8,000. Net income (loss) = $ Total Assets May 31, 2018 133,000 $ 77,000 June 30, 2018 202,000 122,000 Total Liabilities Print Done
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