Question
On January 1, 2022, Crane Company reported owners equity of $704000. During the year, the owner withdrew cash of $29000 and did not make any
On January 1, 2022, Crane Company reported owners equity of $704000. During the year, the owner withdrew cash of $29000 and did not make any additional investments. At December 31, 2022, the balance in owners equity was $824000. What amount of net income or net loss would the company report for 2022?
Net income of $149000
Net income of $211000
Net income of $120000
Net loss of $91000
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
4th edition
78025524, 978-0078025525
