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    lmoore1008's Avatar
    lmoore1008 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jul 21, 2012, 04:48 PM
    Accounting: Owners Equity Statement Questions...
    OK... this is what I am coming up with I WAS GIVEN THESE NUMBERS AND HAVE REFIGURED THEM NUMEROUS TIMES) only I'm not getting the right number in the end! What am I missing??

    Gionan, Capital, December 31, 2010 $61,800
    Add: Investments by owner $30,000
    Net income 27,940
    57,940
    =
    119,740
    Less: Withdrawals by owner (14,500)
    =
    $105,240

    BUT... What I have listed to go off is that Gionan, Capital, December 31, 2011 is $91,800 NOT $105,240 I AM SO CONFUSED AS TO WHA I AM NOT DOING RIGHT??
    Unknown008's Avatar
    Unknown008 Posts: 8,076, Reputation: 723
    Uber Member
    		  
    #2

    Jul 22, 2012, 09:03 AM
    What have you exactly been asked?

    Because what nets to $91,800 is the investments/capital employed.
    lmoore1008's Avatar
    lmoore1008 Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Jul 23, 2012, 03:44 PM
    Shouldn't the total after withdrawals equal $91,800 because that is the capital for December 31, 2011?
    Unknown008's Avatar
    Unknown008 Posts: 8,076, Reputation: 723
    Uber Member
    		  
    #4

    Jul 24, 2012, 02:04 AM
    This would be the net equity, not the amount that you have invested initially.
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