contestada

on a statement of owner's equity, beginning capital is $30,000, net income for the year is $11,000 and drawing for the year is $6,000, the ending capital amount would be

Respuesta :

The ending capital amount on the statement of owner's equity would be $35,000. This is the amount of capital that the owner has available at the end of the period being reported.

How to find  ending capital amount ?

In this case, you are given the beginning capital amount ($30,000), the net income for the year ($11,000), and the amount of drawings for the year ($6,000). To find the ending capital amount, you can use the following formula:

Ending capital = Beginning capital + Net income - Drawings

Plugging in the values given in the problem, we get:

Ending capital = $30,000 + $11,000 - $6,000

Which simplifies to:

Ending capital = $35,000

So the ending capital amount on the statement of owner's equity would be $35,000. This is the amount of capital that the owner has available at the end of the period being reported, after accounting for any changes in net income and drawings.

To learn more about ending capital refer :

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