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please answer theses questions!!! jective 3 E1-24 Using the accounting equation The records of Felix Company show the following at December 31, 2014: Beginning: Assets
please answer theses questions!!!
jective 3 E1-24 Using the accounting equation The records of Felix Company show the following at December 31, 2014: Beginning: Assets Liabilities Equity: Owner contributions Owner withdrawals $ $ 45,000 29,000 OD 19,000 Ending: Assets Revenues Expenses 242,000 ? $ 55,000 38,000 Liabilities Requirements 1. Compute the missing amount for Felix Company. You will need to work through total owner's equity. 2. Did Felix earn a net income or suffer a net loss for the year? Compute the amount Step by Step Solution
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