Solution-Analysis of the change in owners equity

Analysis of the change in owners equity

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Reference no: EM13512452

Andruw Company had the following assets and liabilities on the dates indicated.

December 31	Total Assets	Total Liabilities
2011	$400,000	$250,000
2012	$460,000	$300,000
2013	$590,000	$400,000

Andruw began business on January 1, 2011, with an investment of $100,000.

Instructions

From an analysis of the change in owner's equity during the year, compute the net income (or loss) for:

(a) 2011, assuming Andruw's drawings were $15,000 for the year.

(b) 2012, assuming Andruw made an additional investment of $45,000 and had no drawings in 2012.

Reference no: EM13512452

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Analysis of the change in owners equity

Reference no: EM13512452

Reference no: EM13512452

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