Dublin Window Cleaners began operations on January 1, 2019. The owner invested $400,000 during the first year

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Dublin Window Cleaners began operations on January 1, 2019. The owner invested $400,000 during the first year and made no withdrawals.

During 2020, the business reported profit of $192,000, owner withdrawals of $104,000, and zero owner investments.

In 2021, Dublin Window Cleaners earned profit of $366,000. The owner withdrew $218,000 during 2021 and made no investments. Owner’s capital at December 31, 2021, was $605,000.

Required

Calculate the profit or loss for the year 2019.

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Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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Question Posted: Dec 05, 2019 07:13 AM

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Dublin Window Cleaners began operations on January 1, 2019. The owner invested $400,000 during the first year

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2021 2020 2019 Beginning capital 457000 1 369000 3 ...View the full answer

Fundamental Accounting Principles Volume I

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