Question
TJ Office Supplies, owned by D.Stroud, had a balance in his Capital account, D. Stround, Capital of $26,000 on January 1, 2020. The balance in
TJ Office Supplies, owned by D.Stroud, had a balance in his Capital account, D. Stround, Capital of $26,000 on January 1, 2020. The balance in this account was $27,500 at the end of the year. Net income for the year was $5,000. Explain why the balance in the Capital account was not $31,000.
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Accounting for Non-Accounting Students
Authors: John R. Dyson
8th Edition
273722972, 978-0273722977
