At september 1, 2016, hotel suites co. reported owner's capital of $147,000. during the month, hotel suites generated revenues of $48,000, incurred expenses of $26,000, purchased equipment for $5,000 and withdrew cash of $3,000. what is the amount of owner's capital at september 30, 2016?

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racing1696 racing1696

11-09-2017
Business

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At september 1, 2016, hotel suites co. reported owner's capital of $147,000. during the month, hotel suites generated revenues of $48,000, incurred expenses of $26,000, purchased equipment for $5,000 and withdrew cash of $3,000. what is the amount of owner's capital at september 30, 2016?

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W0lf93 W0lf93 · Answer 1 · 2017-09-23T13:53:15+02:00

W0lf93 W0lf93

23-09-2017

$161,000 This is a simple matter of addition and subtraction. Starting capital: $147,000 Generated revenue: $48,000. Add to total giving $195,000 Expenses: $26,000. Subtract from total giving $169,000 Purchased equipment: $5,000. Subtract from total giving $164,000 Withdrew cash: $3,000. Subtract from total giving $161,000

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