A company had the following assets and liabilities at the beginning and end of this year
Liabilities
$ 22,078
37,463
Beginning of the year
End of the year
Assets
$ 51,500
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 did withdraw $16,800 during the year,
c. Owner made no withdrawals during the year, but the owner did invest an additional $45,000 cash.
d. Owner withdrew $16,800 during the year, but the owner did invest an additional $35,000 cash near year-end.
Determine net income or net loss for the business during the year for each of the above separate cases: (Decreases in equity should
be indicated with a minus sign.)
Beginning of the year-Equity
Owner investments
Owner withdrawals
Net income (loss)
End of the year-Equity
b.
0$
0
S
G.
0 $
$
d.
0
0
