Information from Mrs. Shahs Cookies statement of owners equity for 2014 follows. Withdrawals ...... $ 0 Net
Question:
Withdrawals ...... $ 0
Net income....... ?
Owner’s equity, January 31, 2014... 159,490
Owner’s equity, January 31, 2013... 102,403
Prepare Mrs. Shah’s Cookies’ statement of owner’s equity. You will need to solve for the amount of net income. What is owner’s equity? Why might the owner decide not to make any withdrawals from the company?
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Mrs Shahs Cookies Statement of Owners Equity For the Year End...View the full answer
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Related Book For 
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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