Question: The part marked wrong is my question. Please review and let me know what I am missing. Exercise 2-24 (Algo) Computing net income LO P1

The part marked wrong is my question. Please review and let me know what I am missing.

The part marked wrong is my question. Please review and let me

Exercise 2-24 (Algo) Computing net income LO P1 A company had the following assets and liabilities at the beginning and end of this year. Assets Liabilities Beginning of the year $52,500 $22 507 End of the year 94,500 38, 273 a. Owner made no investments in the business, and no withdrawals were made during the year. b. Owner made no investments in the business, but did withdraw $8,400 during the year. c. Owner made no withdrawals during the year, but the owner did invest an additional $45,000 cash. d. Owner withdrew $8,400 during the year, but the owner did invest an additional $35,000 cash near year-end Determine net income or net loss for the business during the year for each of the above separate cases. Note: Decreases in equity should be indicated with a minus sign. X Answer is complete but not entirely correct. a. b. C. d. Beginning of the year-Equity 29,993 $ 29,993 $ 29,993 29,993 Owner investments 45,000 35,000 Owner withdrawals (8,400) (8,400) Net income (loss) 26,234 17,834 X (18,766) (366) End of the year-Equity $ 56,227 ~ $ 56,227 $ 56,227 $ 56,227

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