Determine the amount for United , Capital , on its year - end balance sheet . Note that Ahmed , Capital was $ 130,000 at the prior year - end . Balance Sheet andStatement of Owner's EquityIncome StatementDr.Cr.Dr.Cr.Ahmed, Capital130,000Ahmed, Withdrawals54,800Totals106,00084,500

Capital:- Capital is the amount which one invested in his or her business in order to generate…

Answered: Determine the amount for United ,…

Determine the amount for United , Capital , on its year - end balance sheet . Note that Ahmed , Capital was $ 130,000 at the prior year - end .

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 2CE

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Question

Determine the amount for United , Capital , on its year - end balance sheet . Note that Ahmed , Capital was $ 130,000 at the prior year - end .

Balance Sheet and
Statement of Owner's Equity
Income Statement
Dr.
Cr.
Dr.
Cr.
Ahmed, Capital
130,000
Ahmed, Withdrawals
54,800
Totals
106,000
84,500

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