Reference no: EM132465024
Beginning of Year
Assets = 29,000
Liabilities = 16,000
Ending of Year
Assets = 61,000
Liabilities = 29,000
Question 1) What is the equity of the beginning of the year?
Question 2) What is the equity of the end of the year?
Question 3) If the owner contributes $5,100 and the owner withdraws $41,400, how much is net income (loss)?
Question 4) If net income is $2,300 and owner withdrawals are $8,000, how much did the owner contribute (owner, capital)?
Question 5) If the owner contributes $17,400 and net income is $18,800, how much did the owner withdraw (owner, withdrawals)?
Question 6) If the owner contributes $42,700 and the owner withdraws $4,400, how much is net income (loss)?
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