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Expanded Accounting Equation Calculation Quiz
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Expanded Accounting Equation Calculation Quiz

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Questions and Answers

If the owner contributes $9,500 and the owner withdraws $41,200, how much is net income (loss)? Net Income (Loss) _______

-31600

If net income is $2,400 and owner withdrawals are $8,400, how much did the owner contribute (owner, capital)? Owner, Capital _______

6000

If the owner contributes $19,100 and net income is $19,600, how much did the owner withdraw (owner, withdrawals)? Owner, Withdrawals _______

-500

If the owner contributes $42,200 and the owner withdraws $4,100, how much is net income (loss)? Net Income (Loss) _______

<p>38100</p> Signup and view all the answers

What is the equity at the beginning of the year? Beginning Equity _______

<p>13000</p> Signup and view all the answers

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