On january 1 2011 we started a new business by investing, Ask an Expert

Accounting

On January 1, 2011 we started a new business by investing cash of $10,000 and equipment of $9,000. During the year we withdraw $2,000. When we prepare of Statement of Owners Equity we note a final balance of $21,000. Based on this information, what was out net income or loss for the year?

$4,000 net loss

$2,000 net income

$2,000 net loss

$4,000 net income

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91967215

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