Bell Computers

BellComputers' balance sheet data at May31, 2016

2016, and June30, 2016

2016, follow:

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For each of the following situations with regard toowner's contributions and withdrawals of thebusiness, compute the amount of net income or net loss during June 2016

2016.

a. The owner contributed $ 6 comma 000

$6,000 to the business and made no withdrawals.

b. The owner made no contributions. The owner withdrew cash of $ 6 comma 000

$6,000.

c. The owner made contributions of $ 25 comma 000

$25,000 and withdrew cash of $ 8 comma 000

$8,000.

0 Do Homework - Reimar Kimer - Opera 7 E X E @E . mathxlcom S "l'I'li . ACC 101 V01 SLHT' Homework: Chapter 1 Homework Score: 4 of 10 pts 4 3 of 8 (3 complete) v ) HW Score: 24%, 24 of 100 pts @ E1-21 (similar to) a; QuestiunHeip a Bell Computers' balance sheet data at May 31, 2015, and June 30, 201B, follow: a (Click the icon to View the balance sheet data) For each of the following situations with regard to owners contributions and withdrawals of the business, compute the amount of net income or net loss during June 2016. a. The owner contributed $5,000 to the business and made no withdrawals. b. The owner made no contributions The owner withdrew cash of $5,000, 1:. The owner made contributions of $25,000 and withdrew cash of $8,000. Begin by identifying the accounting equation and the formula expressed by the statement of owners equity (the "equity equation\"): (Abbreviation used Account : Accounting) Account. equation : Assets = Liabilitia + Equity Equity equation. : Capital, Beginning + Owner contribution + Net income or- Net loss - Owner withdrawal = Capital, Ending For each of the following situations with regard to ownefs contributions and withdrawals of the business, compule the amount of net income or net loss during June 2015. (Use a minus sign or parentheses for a net loss.) a. The owner contributed $6,000 to the business and made no withdrawals. Net income (loss) : 5 0 Data Table May 31. 2015 June 30, 2016 Total assets $ 133 000 $ 227000 Total liabilities 122 000 111000 E til Si] n q 33 63'! ' 1-,; o ..... m:- 317;; Enter your answer In the answer cox and then click Check