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View Full Version : Owners equity statement net loss


Tammy70
Oct 1, 2012, 04:33 PM
I have been given 3 T accounts to pull my information from. I think this would be right can anyone tell me for sure?

Capital July 1 2011 398,500
Investments during the year 0
Net loss for the year 42,000

Less withdrawals 10,000
Decrease in owners capital 52,000

Owners capital June 30,2012 346,5000





My teacher counts off if the form is wrong I really need to get this right desperate for help.

paraclete
Oct 1, 2012, 08:46 PM
Aside from the extra zero that would appear correct

Tammy70
Oct 2, 2012, 07:55 AM
So I should take out : investments during the year 0
Then it would be correct?

paraclete
Oct 2, 2012, 03:52 PM
No 346,5000 has too many zero's making your answer mathematically incorrect

Tammy70
Oct 2, 2012, 05:04 PM
no 346,5000 has too many zero's making your answer mathematicallyth incorrect
Thank you for the help