At January 1 2016 Croc Industries reported owner's capital of $140000. During 2016 Croc had a net loss of $30000 and owner drawings of $15000. At December 31 2016 the amount of owner's capital is

Question

Quizplus · Accepted Answer

The owner's capital at the end of the year is calculated by subtracting the net loss and owner drawings from the initial owner's capital: $140,000 - $30,000 - $15,000 = $95,000.

At January 1 2016 Croc Industries Reported Owner's Capital of $140000