Question

wnd:103 points and and ot this year A sae proprieorship had the tolloing assets and labältes at he beginning and no invessments in he buainess, and o withdrawals wre made during the yer no investments in te business but wthdrew $1.2 r made 0 cah d. Owner withdrew $.230 cash per month for personal e and inwested an addtional 535 000 cash. Desermire the net income sarned or net loes incurred by the business during the year for each of the above separate cases (Decreases in equity should be indicated with a minus sign) Wihdrs by owrair

0 0
Add a comment Improve this question Transcribed image text
Answer #1

please provide rating..

i ii iii=i-ii
Asset Liabilities equity
Beginning of the year 60000 20000 40000
End of year 106000 36000 70000
a b c d
a Beginning of the year equity 40000 40000 40000 40000
b Owners investment 55000 35000
c Withdrawals by owner -15000 -15000
d=e-a-b-c Net income/(Loss) 30000 45000 -25000 10000
e End of year - equity 70000 70000 70000 70000
Add a comment
Know the answer?
Add Answer to:
wnd:103 points and and ot this year A sae proprieorship had the tolloing assets and labältes...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • A sole proprietorship had the following assets and liabilities at the beginning and end of this...

    A sole proprietorship had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $142,000 195,500 Liabilities $60,875 79,178 a. Owner made no investments in the business, and no withdrawals were made during the year. b. Owner made no investments in the business, but withdrew $900 cash per month for personal use. c. Owner made no withdrawals during the year, but the owner did invest an additional $45,000...

  • A corporation had the following assets and liabilities at the beginning and end of this year....

    A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $100,500 157,000 Liabilities $43,084 63,585 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,300 cash per month c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...

  • A corporation had the following assets and liabilities at the beginning and end of this year....

    A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets Liabilities $97,000 $41,584 148,000 59,940 3. Owner made no Investments in the business, and no dividends were paid during the year. b. Owner made no Investments in the business, but dividends were $750 cash per month. C. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...

  • A corporation had the following assets and liabilities at the beginning and end of this year....

    A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $120,500 177,500 Liabilities $51,658 71,888 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $800 cash per month c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...

  • A corporation had the following assets and liabilities at the beginning and end of this year,...

    A corporation had the following assets and liabilities at the beginning and end of this year, Beginning of the year End of the year Assets $ 89,500 133,500 Liabilities $ 38,369 54,068 a. Owner made no investments in the business, and no dividends were paid during the year b. Owner made no investments in the business, but dividends were $600 cash per month c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash...

  • A corporation had the following assets and liabilities at the beginning and end of this year....

    A corporation had the following assets and liabilities at the beginning and end of this year. 1.42 points Beginning of the year End of the year Assets $112,500 162,500 Liabilities $ 48,229 65,813 eBook a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,150 cash per month. c. No dividends were paid during the year, but the owner did invest an additional...

  • A corporation had the following assets and liabilities at the beginning and end of this year....

    A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $126,000 172,500 Liabilities $54,016 69,863 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $950 cash per month. C. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...

  • help please (Ch. 1-3) Saved Help A corporation had the following assets and liabilities at the...

    help please (Ch. 1-3) Saved Help A corporation had the following assets and liabilities at the beginning and end of this year Liabilities Assets Beginning of the year $ 57,446 134,000 176,000 End of the year 71,280 a. Owner made no investments in the business, and no dividends were paid during the year b. Owner made no investments in the business, but dividends were $1,000 cash per month. c. No dividends were paid during the year, but the owner did...

  • Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at...

    Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets Liabilities 121,500 $ 52,087 179,500 72,698 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,200 cash per month. c. No dividends were paid during the year, but the owner...

  • Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at...

    Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $112,500 155,000 Liabilities $48,229 62,775 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,200 cash per month c. No dividends were paid during the year, but the owner did...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT