Solved: Determine how much owners equity increased for the month, Cost Accounting

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Determine how much owners equity increased for the month

An analysis of the transactions made by Mark Kotsay & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $651for rent, $4,100for salaries and wages, and $364for utilities.

(b) and (c)

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(1) Determine how much owner's equity increased for the month. Increase in owner's equity $

(2) Compute the amount of net income for the month.

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Cost Accounting: Determine how much owners equity increased for the month

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Cost Accounting: Determine how much owners equity increased for the month

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