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Using the expanded accounting equation, calculate and enter the answers for each question. You will...

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Accounting

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Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Assets Liabilities Beginning of Year $27,000 $19.000 End of Year: $63.000 $25.000 1) What is the equity at the beginning of the year? Beginning Equity 8000 2) What is the equity at the end of the year? Ending Equity 38000 3) If the owner contributes $5,800 and the owner withdraws $40,000, how much is net income (loss)? Net Income (Loss) 52200 4) If net income is $1,600 and owner withdrawals are $9,800, how much did the owner contribute (owner, capital)? Owner, Capital 41100 5) If the owner contributes $18,500 and net income is $18,300, how much did the owner withdraw (owner, withdrawals)? Owner, Withdrawals 13700 6) If the owner contributes $42,300 and the owner withdraws $1,000, how much is net income (loss)? Net Income (Loss) 18500 https://act personemg.com/activity/1/4/22 Chrome This course (ACG2001: 661152, Dolan Fall 2020 CUSTOM is based on Miller Nobles/Mattison Horngrens Accounting 13e

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