Jan Irving started a proprictorship on January 1, 2016 with a S1,000 cash contribution to the...
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Jan Irving started a proprictorship on January 1, 2016 with a S1,000 cash contribution to the business. During the first year of operations the company generated $5,000 of cash revenue and incurred $2,000 of cash expenses. Also, Jan withdrew $500 from the business. At the end of 2016 the balance in the Jan Irving, Capital account was a S1,000. b. $3,500. e $3,000. d. $4,000. Jan Irving started a proprictorship on January 1, 2016 with a S1,000 cash contribution to the business. During the first year of operations the company generated $5,000 of cash revenue and incurred $2,000 of cash expenses. Also, Jan withdrew $500 from the business. At the end of 2016 the balance in the Jan Irving, Capital account was a S1,000. b. $3,500. e $3,000. d. $4,000.
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Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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