Amoco Car Rentals balance sheet data at May 31, 2018, and June 30, 2018, follow (Click the icon to view the balance sheet data) Read the requirement Begin by identifying the accounting equation and the formula expressed by the statement of owner's equity (the equity equation") (Abbreviation used Account Accounting) Account equation = Assets Liabilities - Equity Equity equation = Capital, Beginning + Owner contribution + Net income or Not loss - Owner withdrawal = Capital Ending For each of the following situations with regard to owner's contribution and withdrawals of the business, compute the amount of not income or net loss during June 2018

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Amoco Car Rentals balance sheet data at May 31, 2018, and June 30, 2018, follow (Click the icon to view the balance sheet data) Read the requirement Begin by identifying the accounting equation and the formula expressed by the statement of owner's equity (the equity equation") (Abbreviation used Account Accounting)

Account equation = Assets Liabilities - Equity

Equity equation = Capital, Beginning + Owner contribution + Net income or Not loss - Owner withdrawal = Capital Ending

For each of the following situations with regard to owner's contribution and withdrawals of the business, compute the amount of not income or net loss during June 2018. (Use a minus sign or parenthes

a. The owner contributed $18,000 to the business and made no withdrawals Net Income (loss) = $ 127,000

b. The owner made no contributions. The owner withdrew cash of $11,000 Net income (los) 98000

c. The owner made contributions of $25,000 and withdrew cash of $9.000

Net Income (los) $ 125,000

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The statement of owner's equity (the "equity equation"); (Abbreviation used: Account

Data Table 

  May 31, 2018     June 30, 2018 s

Total Assets $ 155,000 $ 231,000

Total Liabilities 133.000 122,000