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Determine how much owner equity increased for the month

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Reference no: EM132028160

Question - An analysis of the transactions made by Liam Agler & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $743 for rent, $4,893 for salaries and wages, and $540 for utilities.

1. Determine how much owner's equity increased for the month.

2. Compute the amount of net income for the month.

Reference no: EM132028160

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