Question

The balance of Owner, Capital, at January 1 was $47.000. During the month of January, the net income for the business was $8,
0 0
Add a comment Improve this question Transcribed image text
Answer #1
Statement of Owners Equity
Owners capital, January 1 47,000
Add: Net income 8,000
Less: Owners, drawings -15,000
-7,000
Owners capital, January 31 $40,000

The balance of Owner, capital at January 31 on the firm's statement of owner's equity = $40,000

Fourth option is correct.

Please give a positive rating if you are satisfied with this solution and if you have any query kindly ask.

Thanks!!!

Add a comment
Know the answer?
Add Answer to:
The balance of Owner, Capital, at January 1 was $47.000. During the month of January, the...
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
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