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Presented below is information related to Allen Company
Presented below is information related to Allen Company.
| Beginning capital | $36,300 |
| Ending capital | $44,600 |
| Additional investments by owner | ? |
| Net income | $5,700 |
| Drawing | $1,200 |
Required:
Compute Additional investments by owner.
Expert Solution
Let us compute the additional investment by owner using the ending capital formula.
- Ending capital = Beginning capital + Additional investment by owner + Net income - Drawing
- $44,600 = $36,300 + Additional investment by owner + $5,700 - $1,200
- $44,600 = $40,800 + Additional investment by owner
- Additional investment by owner = $44,600 - $40,800 = $3,800
The additional investment by owner is $3,800.
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