Using the accounting equation provided, calculate 1 Beginning capital on January 1, 2014, and 2 Ending capital at December 31, 2014 Assets uabilities Equity $20,000 $15,000 Beginning capital on January 1, 2014 3,000Plus owner investments during the year 8,000 Plus net income earned during the year ...

Using the accounting equation provided, calculate: 1. Beginning capital on January 1, 2014, and 2. Ending capital

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Using the accounting equation provided, calculate:
1. Beginning capital on January 1, 2014, and
2. Ending capital at December 31, 2014.

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Fundamental Accounting Principles

ISBN: 978-0071051507

Volume I, 14th Canadian Edition

Authors: Larson Kermit, Tilly Jensen

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Question Posted: Mar 08, 2016 07:29 AM

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Using the accounting equation provided, calculate: 1. Beginning capital on January 1, 2014, and 2. Ending capital

Question:

Assets uabilities + Equity $20,000 $15,000 Beginning capital on January 1, 2014 3,000Plus owner investments during the year +8,000 Plus net income earned during the year 4,000Less owner withdrawals during the year 4 Equals ending capital on December 31, 2014

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1 20000 15000 5000 begin...View the full answer

Fundamental Accounting Principles

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