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15 December, 00:05

Assets, Beginning of Period 12,000

Liabilities, Beginning of Period 5,000

Assets, End of Period 23,000

Liabilities, End of Period 9,000

Investment by Owner 10,000

Revenues 99,000

Withdrawals by Owner 0

Solve for the expenses incurred during the period.

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  1. 15 December, 02:45
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    Assets and revenues are income (+) gains.

    Liabilities, withdrawals and investment are outgone (-) losses.

    12,000-5,000=7,000

    (7,000+23,000) - 9,000=21,000

    21,000-10,000=11,000

    11,000+99,000=110,000

    Total $110,000 Gained
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