Obenosky Travel Agency balance sheet data at May 31, 19X2 and June 30, 19X2 May 31, 19X2

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Obenosky Travel Agency balance sheet data at May 31, 19X2 and June 30, 19X2

May 31, 19X2 June 30, 19X2

Total Asset………………… 150000 195000

Total Liabilities………….. 109000 131000

Required

Below are three assumptions about investments and withdrawals by the owner of the business during June. For each assumption, compute the amount of net income or net loss of the business during June19X2;

1. The owner invested 20000 in the business and made no withdrawals

2. The owner makes no additional investment in the business but withdrew $16000 for personal use

3. The owner invests 39000 in the business and withdrew 6000 for personal use

Posted Date: Oct 19, 2021 02:24 AM

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Obenosky Travel Agency balance sheet data at May 31, 19X2 and June 30, 19X2 May 31, 19X2

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from the giv en data Total Assef increase duving montu 195 000 150 000 45000 Liobilities i... View the full answer

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