Question
Beginning of the year: Total Assets. $129,000 Total liabilities (a) Total Owner's Equity $85,000 End of year: Total Assets 180,000 Total Liabilities 50,000 Total Owner's
Beginning of the year:
Total Assets. $129,000
Total liabilities (a)
Total Owner's Equity $85,000
End of year:
Total Assets 180,000
Total Liabilities 50,000
Total Owner's equity 130,000
Changes during year in owner's equity:
Additional Investments 25,000
Drawings (b)
Total Revenues. 100,000
Total Expenses 65,000
Please solve for a&b and show the calculations.
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Sound Investing, Chapter 15 - Liability Tricks
Authors: Kate Mooney
2nd Edition
0071719377, 9780071719377
