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13 October, 06:45

Luis consulting started the year with total assets of $60,000 and total liabilities of $17,000. during the year, the business recorded $48,000 in consulting revenues and $36,000 in expenses. luis made an additional investment of $8,000 and withdrew cash of $9,000 during the year. ownerâs equity changed by what amount from the beginning of the year to the end of the year? $11,000. $3,000. $12,000. $45,000.

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  1. 13 October, 08:11
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    Owner's equity at the beginning of the year is

    Assets-liabilities

    60,000-17,000=43,000

    Owner's equity at the end of the year is

    Beginning balance+revenues-expenses+additional investment-withdrawal amount

    43,000+48,000-36,000

    +8,000-9,000

    =54,000

    Owner's equity changed by

    ending balance-beginning balance

    54,000-43,000=11,000 ... answer
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