Using the accounting equation provided, calculate: 1. Beginning capital on January 1, 2014, and 2. Ending capital
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1. Beginning capital on January 1, 2014, and
2. Ending capital at December 31, 2014.
Transcribed Image Text:
Assets uabilities + Equity $20,000 $15,000 Beginning capital on January 1, 2014 3,000Plus owner investments during the year +8,000 Plus net income earned during the year 4,000Less owner withdrawals during the year 4 Equals ending capital on December 31, 2014
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
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