Activity $4.$b $-$ Using the Expanded Accounting Equation

Using the expanded accounting equation, calculate and enter the answers for each

question. You will need to use the answers you calculate for beginning and ending equity to

answer the rest of the questions.

What is the equity at the beginning of the year?

Beginning Equity

If the owner contributes $$8,400$ and the owner withdraws $$42,700,$

how much is net income $($loss$)?$

Net Income $($Loss$)$

If the owner contributes $$19,700$ and net income is $$18,300,$ how

much did the owner withdraw $($owner$,$ withdrawals$)?$

Owner,

Withdrawals

What is the equity at the end of the year?

Ending Equity

If net income is $$2,000$ and owner withdrawals are $$5,900,$ how

much did the owner contribute $($owner$,$ capital$)?$

Owner, Capital

If the owner contributes $$44,300$ and the owner withdraws

$$4,700,$ how much is net income $($loss$)?$

Net Income $($Loss$)$