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-   -   Owners equity statement net loss (https://www.askmehelpdesk.com/showthread.php?t=706233)

  • Oct 1, 2012, 04:33 PM
    Tammy70
    Owners equity statement net loss
    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.
  • Oct 1, 2012, 08:46 PM
    paraclete
    Aside from the extra zero that would appear correct
  • Oct 2, 2012, 07:55 AM
    Tammy70
    So I should take out : investments during the year 0
    Then it would be correct?
  • Oct 2, 2012, 03:52 PM
    paraclete
    No 346,5000 has too many zero's making your answer mathematically incorrect
  • Oct 2, 2012, 05:04 PM
    Tammy70
    Quote:
    Originally Posted by paraclete View Post
    no 346,5000 has too many zero's making your answer mathematicallyth incorrect
    Thank you for the help

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