For the Following Independent Situations, Determine the Amount of Net

question 118

Essay

For the following independent situations, determine the amount of net income or net loss.
a)Revenues for the year were $200,000 and expenses were $103,000. The owner withdrew $40,000 for personal use and made an additional investment of $30,000 during the year.
b)Revenues for the year were $249,000 and expenses were $136,000. The owner withdrew $55,000 for personal use and made no additional investments.
c)Revenues for the year were $154,000 and expenses were $189,000. The owner made an additional investment of $90,000 and withdrew $67,000 for personal use.
d)Revenues for the year were $150,000 and expenses were $101,000. The owner made no withdrawals during the year but invested $20,000 cash during the year into the business.

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Definitions:

Union Suppression

Actions or strategies undertaken by employers or others to prevent the formation of unions or to diminish their influence and power within the workplace.

Nonunion Grievance Procedure

A formal process used by nonunionized workplaces to address employee complaints and disputes, without involving labor unions.

Paternalistic/Strategic

Refers to a management style where the company takes a fatherly or strategic interest in the welfare of its employees, often including providing for their needs without seeking their input.

Union Avoidance Strategy

Tactics employed by employers to prevent the formation or influence of labor unions within their organizations.