Pina colada company , a sole proprietorship, had following information for 2023: Cash balance , january 1 is $ 20,000 Accounts recivable, january 1 is $ 16,000 Collection from customer during year Is $ 196,000 capital account balance january 1 is $ 41,000 total assets , january 1 is $ 59,000 Cash investment by sole proprietor, july 1 is $ 5,000 Total assets , December 31 is $ 97,000 Cash balance , December 31 is $ 18,000 Accounts recivable, December 31 is $ 37,000 Merchaindise taken for personal use is $ 11,000 total liabilities , December 31 is $ 45,000 please write income statment and net income 2023
Pina colada company , a sole proprietorship, had following information for 2023: Cash balance , january 1 is $ 20,000 Accounts recivable, january 1 is $ 16,000 Collection from customer during year Is $ 196,000 capital account balance january 1 is $ 41,000 total assets , january 1 is $ 59,000 Cash investment by sole proprietor, july 1 is $ 5,000 Total assets , December 31 is $ 97,000 Cash balance , December 31 is $ 18,000 Accounts recivable, December 31 is $ 37,000 Merchaindise taken for personal use is $ 11,000 total liabilities , December 31 is $ 45,000 please write income statment and net income 2023
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Pina colada company , a sole proprietorship, had following information for 2023: Cash balance , january 1 is $ 20,000 Accounts recivable, january 1 is $ 16,000 Collection from customer during year Is $ 196,000 capital account balance january 1 is $ 41,000 total assets , january 1 is $ 59,000 Cash investment by sole proprietor, july 1 is $ 5,000 Total assets , December 31 is $ 97,000 Cash balance , December 31 is $ 18,000 Accounts recivable, December 31 is $ 37,000 Merchaindise taken for personal use is $ 11,000 total liabilities , December 31 is $ 45,000 please write income statment and net income 2023
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