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Jan Irving started a proprictorship on January 1, 2016 with a S1,000 cash contribution to the business. During the first year of operations the
Jan Irving started a proprictorship on January 1, 2016 with a S1,000 cash contribution to the business. During the first year of operations the company generated $5,000 of cash revenue and incurred $2,000 of cash expenses. Also, Jan withdrew $500 from the business. At the end of 2016 the balance in the Jan Irving, Capital account was a S1,000. b. $3,500. e $3,000. d. $4,000.
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
