Asset 500,000 Liabilities ? Beginning Capital 100,000 Revenue 600,000 Expense 700,000 Net Income/Loss ? Additional Investment 450,000 Withdrawal 100,000 Ending Capital 350,000

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 16MC: If current assets are $100,000 and current liabilities are $42,000, what is the working capital? A....
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How much is the liabilities? How much is the Net Income/Loss? (Note: If the answer is net loss, use a parenthesis) Eg. (20,000)
Asset
500,000
Liabilities
?
Beginning Capital
100,000
Revenue
600,000
Expense
700,000
Net Income/Loss
?
Additional Investment
450,000
Withdrawal
100,000
Ending Capital
350,000
Transcribed Image Text:Asset 500,000 Liabilities ? Beginning Capital 100,000 Revenue 600,000 Expense 700,000 Net Income/Loss ? Additional Investment 450,000 Withdrawal 100,000 Ending Capital 350,000
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