Torchwood Enterprises had a capital balance of $168,000 at the beginning of the period. At the end

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Torchwood Enterprises had a capital balance of $168,000 at the beginning of the period. At the end of the accounting period, the capital balance was $198,000.
(a) Assuming no additional investment or withdrawals during the period, what is the net income for the period?
(b) Assuming an additional investment of $13,000 but no withdrawals during the period, what is the net income for the period?

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Accounting Principles

ISBN: 978-0470534793

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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