Accounting Equation Katherine Brewer is the owner and operator of Go-For-It LLC, a motivational consultingbusiness. At the
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Accounting Equation
Katherine Brewer is the owner and operator of Go-For-It LLC, a motivational consultingbusiness. At the end of itsaccountingperiod, December 31, 2018, Go-For-It hasassetsof $762,000 andliabilitiesof $183,000. Using the accounting equation, determine the following amounts:
a.Owner's equityas of December 31, 2018.
$___________
b.Owner's equity as of December 31, 2019, assuming that assets increased by $145,000 and liabilities increased by $44,000 during 2019.
$___________
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