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Crowe company began operations on january 1, year 1. The company was organized as a sole proprietorship. During year 1, crowe acquired $40,000 of capital from john crowe, the owner. Also, during year 1
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Crowe company began operations on january 1, year 1. The company was organized as a sole proprietorship. During year 1, crowe acquired $40,000 of capital from john crowe, the owner. Also, during year 1 the company earned net income of $20,000 and john crowe withdrew $15,000 from the business. Based on this information, the company would show:.

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