Solution-Determine the net income of year

Determine the net income of year

Reference no: EM133198281

At the beginning of this financial year, Sandra had a beginning credit balance of capital $42,000. During the year she withdrew $4,400. At the end of the period, Sandra's capital account showed a $64,000 credit balance. If Sandra had contributed an additional $4,000 capital during this year, and withdrawal was recorded as a reduction on capital account, and net income was added to the capital account, what was the net income of this year?

Reference no: EM133198281

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Determine the net income of year

Reference no: EM133198281

Reference no: EM133198281

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