Question

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

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.
(c) 2013, assuming Andruw made an additional investment of $15,000 and had drawings of $25,000 in2013.


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  • CreatedOctober 24, 2011
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