Determine the net income or net loss of guji

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Question - Guji Company had the following amounts of assets and liabilities at the beginning and end of last year:

 

Assets

Liabilities

Beginning of the year

Br.75,000

Br. 30,000

End of the year

120,000

46,000

Determine the net income or net loss of Guji for the year under each of the following unrelated assumptions:

a) Owner made no additional investment and withdrew no amount during the year.

b) Owner made no additional investment but withdrew Br.17,500 to pay for her personal expenses.

c) Owner withdrew no amount during the year but made additional investment of Br. 32,500 cash.

d) Owner withdrew Br.17,500 and invested Br.25,000 cash during the year.

Reference no: EM133005877

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