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need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Beginning of Year End of Year
need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Beginning of Year End of Year Assets Liabilities $19,000 $25,000 164.000 $26,000 1) What is the equity at the beginning of the year? Beginning Equity 6000 2) What is the equity at the end of the year? Ending Equity 38000 Sole Proprietorship (CA) 3) If the owner contributes $7,900 and the owner withdraws $39,800, how much is net income (loss)? Net Income (Loss) 4) If net income is $3,900 and owner withdrawals are $8,500, how much did the owner contribute (owner, capital)? Owner, Capital 5) If the owner contributes $17,300 and net income is $19,400, how much did the owner withdraw (owner, withdrawals)? Owner, Withdrawals 6) If the owner contributes $41,600 and the owner withdraws $1,200, how much is net income (loss)? Net income (Loss)
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