How do calculate the net loss

Reference no: EM13238985

How do you calculate the net loss?
Partially correct answer. Your answer is partially correct. Try again.
Andruw Company had the following assets and liabilities on the dates indicated.
December 31
Total Assets
Total Liabilities

2011 $499,115 $267,262
2012 $559,115 $317,262
2013 $689,115 $417,262

Andruw began business on January 1, 2011, with an investment of $99,112.
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 $15,264 for the year.

Net income for 2011 $Entry field with correct answer

(b) 2012, assuming Andruw made an additional investment of $48,777 and had no drawings in 2012.

Net loss for 2012 $Entry field with incorrect answer

(c) 2013, assuming Andruw made an additional investment of $18,235 and had drawings of $19,148 in 2013.
Net income for 2013 $Entry field with incorrect answer

Reference no: EM13238985

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