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Using the following business transaction, compute for the proprietor's capital.

Using the following business transaction, compute for the proprietor's capital.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Using the following business transaction, compute for the proprietor's capital.
4. Using the following business transactions, compute for the proprietor's capital. The proprietor invested 5,000,000 cash in the business. The proprietor invest a typewriter valued at 250,000. • The proprietor took 200,000 out of the business as a permanent reduction in investment. The proprietor purchased supplies for the business, paying for the supplies with 75,000 in cash from the business. The proprietor purchased an adding machine for 50,000, paying with cash from the business.
Transcribed Image Text:4. Using the following business transactions, compute for the proprietor's capital. The proprietor invested 5,000,000 cash in the business. The proprietor invest a typewriter valued at 250,000. • The proprietor took 200,000 out of the business as a permanent reduction in investment. The proprietor purchased supplies for the business, paying for the supplies with 75,000 in cash from the business. The proprietor purchased an adding machine for 50,000, paying with cash from the business.
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