Ivanhoe Company had the following assets and liabilities on the dates indicated. December 31 Total Assets...
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Ivanhoe Company had the following assets and liabilities on the dates indicated. December 31 Total Assets 2021 2022 2023 $478,000 $538,000 $668.000 Net income for 2021 Net loss Ivanhoe began business on January 1, 2021, with an investment of $97,000. From an analysis of the change in owner's equity during the year, compute the net income (or loss) for: (a) 2021, assuming Ivanhoe's drawings were $23,000 for the year. Total Liabilities for 2022 $293,000 $343,000 $443,000 for 2023 (b) 2022, assuming Ivanhoe made an additional investment of $46,000 and had no drawings in 2022. $ $ 111000 (c) 2023, assuming Ivanhoe made an additional investment of $19,000 and had drawings of $16,000 in 2023. $ Ivanhoe Company had the following assets and liabilities on the dates indicated. December 31 Total Assets 2021 2022 2023 $478,000 $538,000 $668.000 Net income for 2021 Net loss Ivanhoe began business on January 1, 2021, with an investment of $97,000. From an analysis of the change in owner's equity during the year, compute the net income (or loss) for: (a) 2021, assuming Ivanhoe's drawings were $23,000 for the year. Total Liabilities for 2022 $293,000 $343,000 $443,000 for 2023 (b) 2022, assuming Ivanhoe made an additional investment of $46,000 and had no drawings in 2022. $ $ 111000 (c) 2023, assuming Ivanhoe made an additional investment of $19,000 and had drawings of $16,000 in 2023. $
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
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