Jerry's Butcher Shop had the following assets and liabilities at the beginning and end of the current year:
$\begin{array} { l c c }
& \text { Assets } & \text { Liabilities } \
\text { Beginning of the year } \$ 114,000 & \$ 68,000 \
\text { End of the year } & 135,000 & 73,000
\end{array}$
-
If Jerry made no investments in the business but withdrew $5,000 during the year, what was the amount of net income earned by Jerry's Butcher Shop?

Question

Jerry's Butcher Shop had the following assets and liabilities at the beginning and end of the current year:
$\begin{array} { l c c } 
& \text { Assets } & \text { Liabilities } \
\text { Beginning of the year } \$ 114,000 & \$ 68,000 \
\text { End of the year } & 135,000 & 73,000
\end{array}$
- 
If Jerry made no investments in the business but withdrew $5,000 during the year, what was the amount of net income earned by Jerry's Butcher Shop?

Quizplus · Accepted Answer

The Answer of Jerry's Butcher Shop had the following assets and liabilities at the beginning and end of the current year:
$\begin{array} { l c c } 
& \text { Assets } & \text { Liabilities } \
\text { Beginning of the year } \$ 114,000 & \$ 68,000 \
\text { End of the year } & 135,000 & 73,000
\end{array}$
- 
If Jerry made no investments in the business but withdrew $5,000 during the year, what was the amount of net income earned by Jerry's Butcher Shop?

Jerry's Butcher Shop Had the Following Assets and Liabilities at the Beginning