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  • What Is The Single Entry Formula in Computing Net Income For A Proprietorship

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    JAHNHANNALEI MARTICIO
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    The single entry formula for computing net income for a proprietorship begins with the total of the proprietor's capital at the end of the year plus any withdrawals during the year. From this total, the proprietor subtracts their beginning capital and any additional investments made during the year. The result is the proprietor's net income (or loss) for the period.

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    What is the Single Entry Formula in Computing Net Income for a Proprietorship

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    The single entry formula for computing net income for a proprietorship begins with the total of the proprietor's capital at the end of the year plus any withdrawals during the year. From this total, the proprietor subtracts their beginning capital and any additional investments made during the year. The result is the proprietor's net income (or loss) for the period.

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    29 views1 page

    What Is The Single Entry Formula in Computing Net Income For A Proprietorship

    Uploaded by

    JAHNHANNALEI MARTICIO
    The single entry formula for computing net income for a proprietorship begins with the total of the proprietor's capital at the end of the year plus any withdrawals during the year. From this total, the proprietor subtracts their beginning capital and any additional investments made during the year. The result is the proprietor's net income (or loss) for the period.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    4.

    What is the single entry formula in computing net income for a


    proprietorship?

    Capital, end of the year                                        x x


    Add: Withdrawals                                                 x x
    Total                                                                     x x
    Less:
              Capital, beginning of the year        x x
               Additional investments                  x x       x x
    Net Income (loss)                                                 x x

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