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For scenario 2, is it okay for Net Loss to be there instead of Net Income? And shouldn't the Net Loss, as well as

the Decrease in Equity numbers be negative?2019-10-14.png

2019-10-14.png

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Kareena Ali
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1 Scenario 1:
2 J. Do, Capital
3 Balance, January 1st 2015
720,000.00
4 Net Income
$ 140,000.00
5 Drawings
30,000.00
6 Increase in Equity
110,000.00
7 Balance, December 31st 2015
$ 830,000.00
8
9
10 Scenario 2:
11 S. Shaw, Capital
12 Balance, January 1st 2015
$ 1,420,000.00
13 Net Loss
$ 150,000.00
14 Drawings
56,000.00
15 Decrease in Equity
206,000.00
16 Balance, December 31st 2015
$1,214,000.00
17
18
19 Scenario 3:
20 M. Crawford, Capital
21 Balance, January 1st 2015
$ 220,000.00
22 Net Income
$ 20,000.00
23 Drawings
20,000.00
24 Increase in Equity
25 Balance, December 31st 2015
$ 220,000.00
26
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2019-10-14

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