Why is this happening?
JOSEPH AIELLO
jraiello at verizon.net
Mon May 20 20:11:40 EDT 2013
Hi Derek;
So I established an Opening Balance of $1000 in the checking acct of the Asset account as follows:
assets $1000
current assets $1000
checking acct $1000
. ....
.
.
equity $1000
conduct a payroll expense of $400
and get the following:
Assets $600
.
checking acct $600
.
.
.
Expenses $400
Equity $1000
looking at the Equity statement, I get this:
***************************************************************
Capital, 01/01/2013 $0.00
Net loss for Period $400.00
Investments for Period $2,800.00
Withdrawals for Period $1,800.00
Increase in capital $600.00
Capital, 12/31/2013 $600.00
*******************************************************************
How did Investments and Withdrawals get these values?
This is driving me crazy.
...... thanks ....joe
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